Vauld stated in an email to its creditors that its talk with Nexo about a potential acquisition was unsuccessful.
Nexo dispelled the rumor of a complete termination of its deal with Vauld in a later statement.
Earlier, Nexo offered to acquire Vauld to save the lender from bankruptcy, as it owed its creditors $402 million.
Vauld intends to meet its January 20 deadline to submit a restructuring plan.
There are indications that the ongoing negotiations between crypto lenders, Vauld and Nexo over a possible acquisition of the former have suffered a setback. In a Monday email by Vauld to its creditors, the troubled crypto lender insisted that its talks with Nexo had been unsuccessful.
This revelation by Vauld ignited controversies and speculations that the duo might have terminated the potential deal. Although, Nexo, in a later statement, dispelled the rumor about the termination of its ongoing deal with Vauld.
Nexo explained the constraints that have continued to restrain
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