Vauld
BankruptLending · born 2018 · ✝ 2022
A Singapore crypto lender that froze withdrawals in the 2022 contagion.
Vauld was a Singapore-based crypto lending and trading platform. Amid the 2022 market crash it suspended withdrawals citing financial difficulties and entered creditor protection, with a proposed Nexo acquisition that fell through.
- Peak
- ~$1B AUM at peak
- Cause
- Bankrupt
- Year of death
- 2022
☠️ Cause of death
A surge of withdrawals and market losses drained liquidity; Vauld froze accounts and sought restructuring as deals to rescue it collapsed.
📓 Lessons left behind
- —Yield platforms face bank-run risk in downturns.
- —Rescue acquisitions frequently fall apart in due diligence.
- —Asian crypto lenders shared the same fragilities as US peers.
🌱 The idea that survived
Liquidity buffers
Reinforced that custodial lenders need real reserves to honor withdrawals under stress.
#lending#contagion#singapore