Vauld

Switzerland-based crypto lender Nexo has unveiled intentions of buying fellow lending platform Vauld. Nexo announced this news via Twitter on July 5, a day after Vauld halted operations due to financial challenges. Through this acquisition, Nexo hopes to better the crypto space and bolster its presence in Southeast Asia. [embed]https://twitter.com/Nexo/status/1544287488507781120?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet[/embed]   In a subsequent press release, Nexo said it signed an indicative term sheet with Vauld. This agreement will see Vauld offer Nexo a 60-day exclusive exploratory period regarding the…

Singapore-based crypto lending platform Vauld has halted withdrawals, deposits, and trading. The company announced this news earlier today, citing financial difficulties as the reason for pausing operations. Vauld claims its financial strains emanate from multiple factors, including market volatility, struggling partners, and the recent crypto market downturn. According to the company, poor market conditions have seen investors withdraw more than $197.7 million since June 12. To help keep stakeholders safe, Vauld claims to have hired Kroll Pte Limited as its…