Crypto investment platform Yield App announced on June 28 that it will cease all operations immediately. The official statement stated that this decision was taken to "ensure fair and equal treatment for all Yield App users and stakeholders."

Yield App stated that portfolio losses occurred through third-party hedge fund managers who held Yield App assets on the collapsed cryptocurrency exchange called FTX. This is the subject of an ongoing lawsuit.

Yield App has suspended its community channels, but the support channel will remain open to the public via the official website. Cointelegraph reached out to representatives of Yield App for more information but did not receive a response by press time.

This year, the bankrupt cryptocurrency exchange FTX has settled many claims and asset sales and resolved many disputes. In February alone, FTX divested 8% of its stake in AI firm Anthropic, sold its European arm for $33 million, and planned the sale of Digital Custody for $500,000.

How do you evaluate this situation? We are waiting your comments.#YieldApp#FTX #Cryptocurrency