Journalists learned about the “stuck” $ 10 million Vauld in the accounts in FTX
Passing through the restructuring procedure of cryptolending platform Vauld kept $ 10 million in the bills of the bankrupt FTX. This was reported by The Block.
FTX was among the Vauld Exchange Partners.
On November 19, a cryptolending platform will hold a meeting with the participation of representatives of the committee of creditors and a potential buyer – competitor Nexo.
The interlocutors of the publication said that disclosure of information about the Vauld connection with FTX could lead to disruption of the transaction. With this scenario, the platform will consider other options – the release of its own token and attracting capital.
Recall, on July 4, Vauld announced the suspension of operations and possible restructuring due to financial difficulties.
Later, the media, citing documents for the court, found out that the volume of outstanding debt of the platform amounted to $ 402 million.
On July 5, the competitor Nexo signed a preliminary agreement on the absorption with VAULD. In September, the company decided to extend the terms of a comprehensive audit to make a decision for another month, in October – again without specifying a specific date.
In August, Vauld has achieved temporary protection against creditors – the court provided a moratorium platform until November 7. In the future, this period was extended until January 20, 2023.
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