Crypto Lender Vauld Faces Debt-Plan Deadline as Takeover Talks With Nexo in Limbo
- Months of negotiations on acquisition have failed so far
- Vauld needs to present restructuring plan by Jan. 20
A Nexo booth during the Bitcoin 2022 conference in Miami, Florida.
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
Acquisition talks between crypto lenders Nexo and Vauld haven’t yet resulted in an agreement, as Vauld stares down a Jan. 20 deadline to present a restructuring plan to creditors.
Discussions with Nexo “had unfortunately not come to fruition,” Vauld wrote Monday in an email to creditors. Nexo said that it had submitted a revised proposal for the acquisition to Vauld on Dec. 2. In a letter to Vauld creditors, it cited “challenges” during the months of talks, including “defamation” and “the spread of misinformation on social media.”