Crypto Lending Platform Vauld Owes Creditors $402M
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The volume of outstanding debt of crypto lending platform Vauld after the company suspended its operations amounts up to $402 million, according to documents filed in a Singapore court.

According to the documents, $363 million of this amount belongs to retail investors. The company owes $34 million to one of them, and more than $10 million to three others. The 20 largest creditors are entitled to demand the return of $125 million.

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In the event of bankruptcy, unsecured debt creditors rank after preference creditors and secured debt creditors.

The latter category includes "Counterparty 1" and FTX Trading Ltd, which are most likely to fully recover their $35 million and $4.1 million, respectively.

As of the reporting date, Vauld's assets amounted to $287.7 million. Darshan Bhatija, co-founder and CEO of the platform, has pointed out the amount does not include about $70 million in bank accounts.

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