I know, that title is a stretch, but how else can I make another unfunny situation seem more pleasant? Anyways, Singapore-based centralized exchange, Vauld, has halted all withdrawals and other activities due to "extreme market conditions" about 18 days after they said they had no plans to do so, allegedly with $1 billion in assets under management.
Why did I even want to write about this today? Because it's another reminder of how CeFi can about face on their decisions, leaving many investors completely helpless. This has been the crux for the DeFi argument from the very beginning. Please get your money out of centralized exchanges and finance service before it's too late, put them in a cold wallet for now until you figure out the DeFi strategy that works best for you!