Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals

A cryptocurrency lender backed by Peter Thiel and Coinbase Global Inc. suspended withdrawals, trading and deposits on its platform, citing volatile market conditions and financial difficulties facing key business partners.

The platform, Vauld, said Monday that it froze the operations after users pulled almost $ 200 million over the last three weeks. A sharp decline in cryptocurrency prices that began with the collapse of two cryptocurrencies in May has spooked traders and caused knock-on effects in the digital asset world.

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