Crypto Lender Vauld Was Stuck $10 Million On FTX
According to source of The Block, crypto lending company Vauld is in financial trouble because it is stuck with $10 million on FTX after the exchange went bankrupt.
Vauld is next on the list of companies affected by the collapse of FTX. This company used the FTX exchange to execute customer transactions.
The exposure is worth around $10 million, one of the sources said. Vauld used FTX, among other exchanges, to execute trades of its customers since it does not have its own order book, said the source.The Block said
In addition, this company has struggled financially because of its exposure to FTX and has halted customer withdrawals in July. At the same time, the company also has $400 million in debt.
The FTX exposure is just the latest blow for Vauld, which halted client withdrawals on November 19, said another source.
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