Altura Processes $8.5M USDT Redemptions in 24 Hours, Decides to Orderly Shut Down Vaults

ALU3.81%
According to Altura CEO Ranveer Arora on June 22, the on-chain yield platform received unprecedented withdrawal requests over the past 24 hours and successfully processed over $8.5 million USDT in instant redemptions. In response to sustained withdrawal demand and current market sentiment, the team decided to begin an orderly closure of Altura vaults, prioritizing user capital protection and ensuring all redemptions are completed fairly, transparently, and efficiently. The team has notified all counterparties and partners to begin closing positions in the portfolio. Some positions can be redeemed immediately, while others require standard settlement and redemption periods.
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