Altura CEO: Decided to orderly close the Altura vault due to surge in withdrawals

robot
Abstract generation in progress

BlockBeats News, June 22 — Altura CEO Ranveer posted on X platform stating that in the past 24 hours, Altura experienced an unprecedented scale of redemption requests, successfully processing over 8.5 million USDT in instant redemptions. Due to ongoing redemption demand and current market sentiment, the platform has decided to initiate an orderly liquidation of the Altura treasury, prioritizing the safety of user funds and completing all redemptions in a fair, transparent, and efficient manner.

The platform has notified all counterparties and partners and has begun closing positions in investment portfolios, including holdings on exchanges, private credit opportunities, and real-world asset strategies. Some positions can be redeemed immediately, while others require following standard settlement and redemption cycles. The platform is working closely with all counterparties to accelerate the process as much as possible.

Ranveer stated that the liquidation is progressing in a structured manner, and funds will be gradually returned to users as underlying positions are redeemed. The team continues to process redemption requests over the weekend and maintains communication with partners and users.

ALU2.39%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned