'Nexo Has Not Given Up On Its Attempt to Save Vauld' – This is What Happened

cryptonews.com:

There is no deal (yet) in the acquisition talks between crypto lender Nexo and its rival Vauld, while the latter has less than a month to present a restructuring plan to creditors. That said, there is contradicting information coming from the two sides.

Several news outlets have reported that the deal has been terminated altogether - though it remains unclear by whom, how, or when. The same reports noted, however, that Nexo reportedly stated that the talks are still ongoing.

In a short statement for Cryptonews.com, the Singapore-based troubled crypto lender Vauld said that,

To provide a very brief summary, our discussions with Nexo have unfortunately not come to fruition. 

Per a Bloomberg report, Vauld said the same thing in an email to creditors on Monday.

While it may imply so, this does not necessarily mean that the entire deal is off - leaving the issue unclear. Cryptonews.com reached out to Vauld and Nexo for further clarification but did not receive a reply by the publishing time.

Nexo’s co-founder and Managing Partner, Kalin Metodiev, told Cryptonews.com that,

"Nexo has not given up on its attempt to save Vauld and help its creditors recover the maximum possible platform funds. However, as an industry leader we are disappointed to see a handful of people with self-serving agendas trying to hijack the narrative and bar the creditors from making their best decision. We were hoping that the bad actors have mostly departed the blockchain space, but it is obvious that, as a community, we still have work to do."

Meanwhile, Bloomberg wrote, Nexo said that it had submitted a revised proposal for the acquisition to Vauld on December 2, but also wrote in a letter to Vauld creditors that there had been "challenges" during these five