This week the crypto market began to focus on the next update on Vauld’s latest management. Vauld on Monday decided to temporarily stop all withdrawals, trades and deposits on their platform. At the same time, the company informed that it is looking at restructuring options.
Yet after the past 24 hours, there have been rumors that have rekindled hopes about the acquisition of the Vauld company. However, so far there has been no official statement from Vauld's team.
In the latest development, Nexo is looking to acquire Vauld’s company following the challenges it faced that forced Vauld to stop transactions and production. Nexo, a crypto lending platform, is expected to buy a 100% stake in Vauld.
There have been rumors in the crypto community that exo announced its plans to buy the troubled crypto platform. Based on yesterday’s report, Vauld which is a crypto lender company has been facing a financial crisis. Vauld noted the uncertainty in the market had dragged them almost to the brink of destruction. Current market conditions, have led to a large number of production among customers.
So far, the exact terms of the agreement have yet to be announced from both parties. If this can be realized then it will bring relief to the crypto market players. In addition, the question also arises as to when Nexo will acquire Vauld.
This is still a question mark. Yesterday Vauld had stated that they were considering a potential restructuring option that could protect the interests of Vauld’s stakeholders.
