GPT-4: Yield App, a platform that allows users to earn interest, buy, and trade cryptocurrencies, has announced on social media platform X that it will be suspending all activities in preparation for liquidation proceedings. The company, which is based in Seychelles, has decided to halt its operations due to significant portfolio losses from third-party hedge fund managers on the failed cryptocurrency exchange FTX, which are currently under litigation. Yield App has stated that it wants to ensure fair treatment for all users and stakeholders, and as a result, it has ceased all platform activities and will be consulting with liquidators. While community channels will be closed, a support channel will remain accessible via their website. Yield App has requested that customers be patient as they work with advisors to provide further updates and detailed FAQs as soon as possible.
