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Crypto wealth management platform Yield App has announced its shutdown and entered liquidation proceedings, citing significant losses linked to the collapse of FTX. The decision to cease all platform operations follows the realization of losses incurred by third-party hedge fund managers who held assets on FTX. Yield App, backed by AGE Crypto and Alphabit, has taken this step after the FTX collapse. On November 10, 2022, the team realized the extent of the losses.
Yield App Platform Halts Operations Due to Losses from FTX Collapse The @YieldApp team has ceased all platform operations "after realizing the losses incurred by the portfolio of third-party hedge fund managers who held assets on @FTX_Official." On November 10, 2022, the team… https://t.co/qs1KABmOvT
Backed by AGE Crypto and Alphabit, crypto wealth management platform Yield App has announced its shutdown following losses linked to the collapse of FTX https://t.co/7NLxGkHsrP
[COINTELEGRAPH] Crypto platform Yield App shuts down citing #FTX losses
