Crypto Token Tracker logo Crypto Token Tracker logo
CryptoIntelligence 2024-06-30 19:11:00

Yield App Halts Operations Amid Portfolio Losses Linked to FTX Collapse

On June 28, Yield App, a Seychelles-based crypto investment platform, announced the immediate cessation of all its operations. This decision, as stated by the company, “had been made to ensure fair and equal treatment for all Yield App’s users and stakeholders.” The company cited significant portfolio losses due to third-party hedge fund managers who held Yield App’s assets on the now-defunct cryptocurrency exchange FTX, which is currently embroiled in litigation. Despite suspending community channels, Yield App assured users that a support channel would remain accessible through its official website. CEO Tim Frost informed Cointelegraph that the company has been “pursuing

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.