Troubled cryptocurrency lending platform Vauld has been given a brief reprieve from creditors after the Singapore High Court granted it a three-month moratorium on Monday. According to a Bloomberg article, Justice Aedit Abdullah reportedly rejected Vauld’s parent business Defi Payment Limited’s original request for a six-month embargo. This, because of fears that a longer moratorium […]
for a six-month embargo. This, because of fears that a longer moratorium “won’t obtain enough oversight and monitoring.”
The moratorium, according to Vauld’s amended website FAQ on Monday, would provide the company breathing room to develop a restructuring plan. The company added, While the ban is in place, Vauld plans to develop a restructuring strategy and look into possibilities to revitalize the business.
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