The Singapore-based crypto exchange Vauld announced on Monday that it had stopped all withdrawals, trading, and deposits on its platform.
The company, which has the financial support of Pantera Capital, Coinbase Ventures, and PayPal founder Peter Thiel’s Valar Ventures, said it is looking into “potential restructuring options.”
Vauld announced that it would ask the Singaporean courts to halt any legal actions against pertinent companies so that the exchange could concentrate on reorganization.
Vauld is the most recent crypto company to limit or stop withdrawals, joining CoinFLEX, Celsius Network, Babel Finance, and Finbox.
The company said in June that 30% of its workforce would be let go.