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Bitsky000

06/22 12:46

Altura Begins Vault Wind-Down as $8.5M in Redempti

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Altura Begins Vault Wind-Down as $8.5M in Redemptions Hit Platform Altura processed over 8.5 million USDT redemptions before wind-down announcement. The protocol began unwinding exchange, credit, and RWA positions. Main Street’s msUSD collapse fueled fears despite Altura’s separation. DeFi protocol Altura will wind down its stablecoin yield vault following a surge in user withdrawals that triggered more than 8.5 million USDT in redemptions within 24 hours, according to CEO Ranveer Arora. Arora announced the decision in a statement on X, explaining that sustained redemption demand had made continued operation of the vault increasingly difficult. He added that the platform’s priority remains protecting user funds while completing all withdrawals in an orderly manner.
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