Acquisition talks between Vauld and its potential buyer, Nexo, have broken down, according to a report published by Bloomberg on Dec. 26.
Vauld was one of several cryptocurrency lending and borrowing companies that suspended withdrawals this summer due to a widespread liquidity crisis. The firm halted services on July 4 and filed for creditor protection on July 8.
During that time, Vauld’s competitor, Nexo, took steps to acquire and rescue the failing company. Updates from Vauld suggest that Nexo was still engaging in acquisition talks as recently as Sept. 6, as the two firms extended the due diligence process at that time.
However, in an email obtained by Bloomberg today, Vauld seemed to suggest that acquisition talks have come to an end. In that email, Vauld said that it was “previously exploring a potential acquisition” with Nexo. The firm summarized recent events by stating that past discussions have “unfortunately not come to fruition.”
Nexo, however, suggested in its ow
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