On June 16, Vauld CEO sent out this email saying all funds are safe and Vauld isn’t facing any financial difficulty due to withdrawals. Today, we got an email saying Vauld is near insolvency and withdrawals are paused. I’m highlighting the email sent to us on June 16, below.
We understand that these are trying times for crypto investors, but Vauld continues to operate as usual despite volatile market conditions.
We have always maintained a balanced and conservative approach to liquidity management. Bull and bear runs are inevitable in the crypto market, and we deploy fundamentally strong strategies that account for these cycles.
We do not have any exposure to Celsius or Three Arrows Capital, and we remain liquid despite market conditions. Over the last few days, all withdrawals were processed as usual and this will continue to be the case in the future.
We believe that such difficult market conditions will eventually give rise to a new wave of innovation and growth, and we are laser-focused on putting our heads down and building for that future.
We remain committed to enabling you to build wealth.
Best, Darshan Bathija, Co-Founder and CEO at Vauld. “
TLDR: Don’t trust the CEOs. Today Vauld, tmrw Kucoin. Move your coins to your wallets, off exchanges.