Vauld says Nexo acquisition has broken down

Dec. 26, 2022 at 11:19 pm

By Mike Dalton

Acquisition talks between Vauld and its potential buyer, Nexo, have broken down, according to a report published by Bloomberg on Dec. 26.

Vauld was one of several cryptocurrency lending and borrowing companies that suspended withdrawals this summer due to a widespread liquidity crisis. The firm halted services on July 4 and filed for creditor protection on July 8.

During that time, Vauld’s competitor, Nexo, took steps to acquire and rescue the failing company. Updates from Vauld suggest that Nexo was still engaging in acquisition talks as recently as Sept. 6, as the two firms extended the due diligence process at that time.

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