232
Singapore-based cryptocurrency lender Vauld has received another extension by a court in Singapore to present its restructuring plan, giving it protection from its creditors until March 24.
Vauld's existing legal protection expires on Feb. 28.
"The moratorium has been extended till 24-Mar-2023," a Vauld spokesperson told CoinDesk via email. "There will be another hearing scheduled before that to confirm the final decision about approval of scheme."
$23,803.49
$1,657.97
BNB$306.89
XRP$0.37874756
$12.83The crypto lender filed for creditor protection in Singapore last July after it suspended withdrawals, trading and deposits on its platform. It initially had until Jan. 20 to work on a restructuring plan.
Vauld has received takeover bids from two digital asset fund managers, according to a Bloomberg report last month. Fellow crypto lender Nexo had been the frontrunner to acquire Vauld, but talks broke down at the start of this year.
As of July last year, Vauld owed creditors $402 million, 90% of which originated from individual retail investor deposits. Authorities in India froze assets worth 3.7 billion rupees ($44.7 million) a month after it filed for creditor protection.
Read more: Crypto Lender SALT Raises $64.4M to Resume Operations
$23,803.49
$1,657.97
BNB$306.89
XRP$0.37874756
$12.83DISCLOSURE
Please note that our privacy policyterms of usecookiesdo not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
