Crypto lending platform Nexo has left the desk of crypto lender Vauld, with whom it began negotiations for potential acquisitions.
The adopted and expanding crypto industry is witnessing developments within itself. Many companies are putting their hands in their pockets for new projects and new moves. One of them, the crypto lender Nexo, started negotiations with Vauld for potential acquisition last July. Having trouble with liquidity, Vauld was keen on the realization of the sale to Nexo. However, Nexo ended potential acquisition talks with Vauld six months later.
Crypto Lender Nexo Ends Talks With Vauld
Crypto firm Nexo has signed a potential buyout deal with liquidity-strapped Vauld. This agreement offered a 60-day special due diligence facility. However, the company had to extend the due diligence period twice. According to the latest update, the two sides ended these talks and withdrew from the deal.
Vauld CEO Darshan Bathija informed his company’s creditors that negotiations with Nexo have ended. “Unfortunately, our negotiations with Nexo did not bear fruit,” said the CEO, who contacted his creditors via e-mail.
Among the reasons for the collapse of the deal was that Vauld was hit hard by all market conditions. Nexo made two stipulations to Vauld before ending the talks. These terms did not materialize because Vauld did not satisfy his creditors.
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