Crypto Lender Nexo Throws Out A Lifeline To Troubled Crypto Lender Vauld

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ValueWalk

Troubled crypto lender Vauld, which is backed by well-known venture capitalist Peter Thiel and crypto exchange Coinbase, suspended withdrawals over the weekend, citing the widespread digital asset crisis. Now competing crypto lender Nexo says it signed a term sheet with Vauld that gives it 60 days of exclusive negotiations to discuss an all-equity acquisition of the smaller lender. What Happened To Vauld?On Monday, Vauld paused operations, saying it was looking into restructuring options due to the “financial challenges” it faced in relation to the sharp selloff in cryptocurrencies. The compan…

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