Embattled crypto lending platform Vauld one more time gets the period of creditor protection from a Singapore court. The company should come up with a revival plan before Feb. 28.
As reported by Bloomberg on Jan. 17, Vauld has been granted more than a month to close its negotiations with one of two digital-asset fund managers to take over the executive control of the tokens stuck on its platform. Apparently, the Singapore high court was satisfied by the company’s claim that the negotiations have entered to the “advanced stage.”
In July 2022 the platform halted the withdrawals for its 800,000 customers, citing unfavorable market conditions and an unprecedented $200 million worth of withdrawals in under two weeks. In August, it has already been granted a three-month moratorium