On Monday, embattled British crypto lender Nexo told Decrypt that its acquisition of Singapore-based rival Vauld had not yet ended after emails surfaced indicating that Vauld was looking to withdrawn from the acquisition during the exclusivity bid period.
“Nexo has not given up on its attempt to save Vauld and help its creditors recover the maximum possible platform funds,” Kalin Metodiev, a managing partner at Nexo, told Decrypt.
The company, however, is on the rocks with with Singapore-based rival Vauld about an acquisition, imperiling a plan to rescue the company that is short more than $400 million after it was slammed by the collapse of FTX and the Terra-Luna stablecoin earlier this year.
Vauld CEO Darshan Bathija said in a statement Monday that “our discussions with Nexo have unfortunately not come to fruition” over the past six months.
“We have since sought a mutual agreement with Nexo to terminate the existing exclusivity arrangements and we are continuing our active engagement with the shortlisted fund managers in developing a viable strategy that would best serve…
