“Another crypto lender Vauld pauses withdrawals as market crash takes its toll”
July 5, 2022
“Crypto lender Vauld on Monday paused all withdrawals, trading and deposits on its platform and is exploring potential restructuring options, the company said.
Vauld CEO Darshan Bathija said in a blog post on Monday that the company is facing “financial challenges” due to “volatile market conditions, the financial difficulties of our key business partners inevitably affecting us, and the current market climate” which has led to customers withdrawing more than $197.7 million from the platform since June 12…”
I keep saying this. Now is not the time to pull out. It’s time to invest. It’ not like cryptocurrency is going to die no matter how bad it gets. In 5 years or so when the price is back up again everyone is going to wish they would have kept their investments. Now it’s a different story if you have a bad investment. That’s part of the risk. Not all crypto will rebound but many will.