Another lending platform suspends withdrawals! Singaporean company Vauld states: Large volume of withdrawals from users poses financial challenges, considering company restructuring.

"We have made the difficult decision to halt all withdrawals, trading, and deposits." Singapore-based cryptocurrency exchange and lending company Vauld wrote in a tweet on 7/4. This statement is all too familiar as another company, Voyager, just mentioned it, and Celsius has not yet resumed. Vauld also stated on 6/16, "We always maintain a balanced and conservative liquidity management approach. The bull and bear markets are inevitable, and we adopt a fundamentally sound strategy that is robust enough to withstand these cycles." They also mentioned that they have no involvement with Celsius and Three Arrows Capital (3AC).

Rumors of Nexo's Interest in Acquisition

Media outlet The Block has obtained information regarding a potential acquisition by Nexo, a fellow lending platform. The company has reportedly signed a term sheet with Vauld outlining plans for the acquisition. This term sheet grants Nexo a 60-day exclusive exploration period to conduct due diligence on Vauld. Nexo co-founder Antoni Trenchev stated that it is essential to first understand the financials of the company. It is said that Nexo is considering the acquisition based on Vauld's presence in the Indian and Southeast Asian markets.