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With the crypto community is all eyes for the next update from Vauld management, there could finally be a solution. Although there was no update from the team in the last 24 hours, the situation appears to be heading for an acquisition.
Nexo To Buy Vauld?
In a latest development, Nexo is looking to acquire Vauld in the context of the halted transactions. Nexo, the crypto lending platform, is likely to buy 100% stakes in Vauld.
According Shibilia, a crypto enthusiast, Nexo announced its plans to buy the troubled crypto platform.
“Crypto lending platform Nexo has announced that it has started a process to buy Vauld, which has stopped withdrawals.”
On Mondy, Vauld, the crypto lender based in Singapore and India, said it was going through a financial crisis. It cited volatility in the market for the financial challenges, which also badly impacted its business partners. The current market climate led to a significant amount of customer withdrawals, it explained.
