Vauld Rejects Nexo's 'Final' Acquisition Proposal

Troubled crypto lender Vauld and its committee of creditors (COC) rejected rival Nexo's "final" acquisition proposal due to concerns about Nexo's financial health and others issues.

"We have taken the terms of the Final Nexo Proposal into consideration and further consulted with the COC, and we unanimously do not accept your proposal as it stands," Vauld co-founder and CEO Darshan Bathija wrote to Nexo in a letter.

Previously, Nexo presented the proposal to Vauld's creditors on Dec. 26th in an open letter. Vauld, however, rejected Nexo's offer as it did not contain significant changes from its previous proposal, and therefore, it continues to seek answers from Nexo on its two key concerns. Those concerns are how Nexo will treat claims of U.S.-based Vauld creditors since it recently announced plans to exit the market and whether Nexo is in good financial health. Vauld expects Nexo to respond to its concerns on Jan. 6th.

Source

Lending

In This Article

Related News
Arijit Sarkar Arijit Sarkar 2 hours ago Crypto lender Polter Finance halts operations after $12M hack Arijit Sarkar Arijit Sarkar 2 hours ago Crypto lender Polter Finance halts operations after $12M hack
Aave proposal considers activating fee switch and buying back tokens from open market Aave proposal considers activating fee switch and buying back tokens from open market
Risk Manager Gauntlet Quits Aave and Moves to Rival Lending Protocol Morpho Risk Manager Gauntlet Quits Aave and Moves to Rival Lending Protocol Morpho
Radiant Capital Loses $4.5M in Exploit, Halts Lending Market on Arbitrum Radiant Capital Loses $4.5M in Exploit, Halts Lending Market on Arbitrum
Latest News More More
11 Hours Ago Ethereum devs agree to stop forking around and accelerate the roadmap
11 Hours Ago CZ’s dog’s name sparks ‘Broccoli’ memecoin frenzy
1 Day Ago Ether shoots up 3.5% as CBOE, 21Shares seek to add ETH staking to ETF
1 Day Ago TON connects to Tether’s USDt ecosystem with LayerZero integration
3 Days Ago Story Protocol confirms public mainnet to launch on Feb. 1
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open