Odaily Planet Daily reports: Ranveer, CEO of Altura, posted on X that over the past 24 hours, Altura experienced an unprecedented volume of redemption requests and has successfully processed more than 8.5 million USDT in instant redemptions. Given ongoing redemption demands and current market sentiment, the platform has decided to initiate an orderly liquidation of the Altura treasury, prioritizing user fund security and completing all redemptions in a fair, transparent, and efficient manner.
The platform has notified all counterparties and partners and has begun liquidating positions in its portfolio, including exchange-held assets, private credit opportunities, and real-world asset strategies. Some positions are immediately redeemable, while others must follow standard settlement and redemption cycles; the platform is working closely with all counterparties to expedite the process as much as possible.
Ranveer stated that the liquidation is progressing in a structured manner, with funds being returned to users gradually as the underlying positions are redeemed. The team has been processing redemption requests over the weekend and maintaining communication with partners and users.