In the immediate aftermath of the FTX collapse in November 2022, Yield App CEO Tim Frost had assured customers that "Yield App has no exposure to Alameda or the FTT token, and no signifiant exposure to FTX". However, Yield is now — going on two years after the FTX collapse — claiming to be suing "several hedge funds" that had lost money on FTX.
Yield App declares insolvency, citing FTX losses
Yield App, a crypto investment platform, has announced that it will be entering liquidation proceedings. Citing "significant financial challenges", the project announced that the platform would be suspended pending liquidation.
- "Crypto platform Yield App shuts down citing FTX losses", CoinTelegraph [archive]
- Statement and FAQ by Yield App [archive]