Altura’s CEO, Ranveer Arora, stated on X that over the past 24 hours, Altura received a large volume of withdrawal requests and has processed more than 8.5 million USDT in redemptions. Given the withdrawal demand and market sentiment, the team has decided to orderly shut down the Altura vault to protect user capital and ensure all redemptions are completed. The team has notified counterparties and partners to begin closing positions and is collaborating with all parties to accelerate the redemption process for portions of positions requiring standard settlement.
Altura to Wind Down Vaults Amid Surging Redemption Requests
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Summary
Altura to Wind Down Vaults Amid Surging Redemption Requests: Market news shows the platform processed over $8.5 million USDT in redemptions over the past 24 hours. CEO Ranveer Arora confirmed the team is winding down vaults to ensure user capital safety and complete all redemptions. Partners have been notified to initiate liquidation, and the team is accelerating settlement of outstanding positions. This follows Bitcoin market news reflecting continued volatility and shifting investor sentiment.
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