Crypto lending platform Vauld has about $10 million worth of assets trapped in FTX

Cryptocurrency lending platform Vauld has about $10 million worth of assets trapped in FTX, The Block reported citing sources. Vauld is likely to hold a meeting with its committee of creditors and potential acquirer Nexo on Saturday. Earlier, Vauld stated to its creditors by email that Vauld had obtained the approval of the Singapore High Court to extend the deadline for creditor protection to January 20, 2023. Vauld halted customer withdrawals in July, and on July 12 Vauld sent a letter to creditors disclosing a total shortfall of about $70 million. Later, according to The Block, Vauld’s debt totaled $402 million, of which $363 million (or 90%) came from individual retail investor deposits, and the largest creditor claimed $34 million.