Yield App, a platform for earning interest, buying, and swapping cryptocurrencies, announced on social media platform X Friday the suspension of all activities in preparation for liquidation proceedings. The Seychelles-based company halted operations due to significant portfolio losses from third-party hedge fund managers on the failed cryptocurrency exchange FTX, which are currently under litigation. To ensure fair treatment for all users and stakeholders, Yield App has ceased all platform activities and will consult with liquidators, the company explained. While community channels will be closed, a support channel will remain accessible via their website. The company requests customer patience as they work with advisors to provide further updates and detailed FAQs as soon as possible.
Yield App Suspends Operations Ahead of Liquidation
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