Crypto Lender Nexo Canvasses Vauld Creditors Directly With Final Takeover Offer

Crypto lender Nexo sent an open letter to creditors of Singapore-based rival Vauld, which it’s seeking to buy, after Vauld said it had suspended all withdrawals, trading and deposits on its platform, filed for creditor protection and was looking at restructuring options.

The letter, sent Monday, comes amid conflicting assessments of the acquisition process. Vauld said earlier in the day that the deal announced in July had “not come to fruition.” Nexo responded by saying talks were continuing and it still hoped to complete the purchase. Vauld has until Jan. 20 to work on a restructuring plan.