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 trading partners.
The platform, Vauld, said Monday it froze operations after users raised nearly $ 200 million over the past three weeks. A sharp drop in cryptocurrency prices that began with the collapse of two cryptocurrencies in May has frightened traders and caused side effects in the world of digital assets.