Cryptocurrencies
Crypto Lender Vauld in Talks to be Bought After Withdrawals Halt
- Nexo co-founder says Vauld made ‘bad investment decisions’
- Singapore’s central bank says may bolster crypto regulations
The Vauld website
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Crypto lender Vauld is in discussions to be bought by rival Nexo after freezing client withdrawals and hiring advisers for a potential restructuring.
Nexo is conducting a 60-day due diligence process on Singapore-based Vauld, co-founder Antoni Trenchev said in an interview. Vauld said on Monday that it had suspended withdrawals, trading and deposits on its platform and was in talks with potential investors after facing “financial challenges.”