In late June, the exchange laid off 30% of staff and took other measures to cut costs. They later disclosed they were short $70 million, partly from exposure to the Terra ecosystem which collapsed in May.
Vauld seeks protection against creditors
Cryptocurrency exchange Vauld, who suspended withdrawals on July 4, filed for a moratorium against creditors in Singapore, a process that's conceptually similar to Chapter 11 bankruptcy proceedings in the U.S.
- "Peter Thiel-Backed Crypto Lender Vauld Files for Protection Against Creditors", The Wall Street Journal