Yu Chun Christopher Wong | S3studio | Getty Images Crypto lender Vauld on Monday halted all withdrawals, transactions and deposits on its platform and is exploring possible restructuring options, the company said. Vauld CEO Darshan Bathija said in a blog post on Monday that the company faces “financial challenges” due to “volatile market conditions, financial difficulties of our key business partners that inevitably affect us and the current market climate ” that has led to customers withdrawing more than $197.7 million from the platform since June 12. The Singapore-based company said it was working with its financial and legal advisors to “explore and analyze all possible options, including possible restructuring options, that will best protect the interests of Vauld’s shareholders.” Crypto lending companies like Vauld have faced liquidity problems. Celsiou last month suspended withdrawals for customers citing “extreme market conditions”. Vauld said he is “in discussions with potential investors” in the company. The company said it has engaged Kroll Pte Limited as its financial advisor, as well as Cyril Amarchand Mangaldas and Rajah & Tann Singapore LLP as legal advisors in India and Singapore respectively.
