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Nexo, a crypto lender managing assets for ~4M users, says it signed a term sheet to explore buying Vauld, which halted withdrawals and manages assets for ~100K

Good morning!  Welcome to The Daily Moon.  TikTok's former gaming head Jason Fung … Wayne Jones / crypto.news : H2O Waters Securities Launches First Crypto Water Token, Sequoia China $9 Billion Funding, Federal Reserve not Impressed by USD CBDC CoinDesk : Nexo Signs Term Sheet With Vauld for Potential Acquisition Tweets: Darshan Bathija / @darshanbathija : I understand that a lot of our customers are nervous about your funds. We are working tirelessly to ensure your financials are protected. To that end, we've signed an indicative term sheet with @Nexo to acquire up to 100% of Vauld: https://www.theblock.co/... @nexo : In a consolidation effort aimed at the betterment of the space, as well as the strengthening of our presence in Southeast Asia, we've entered exclusive talks with @VauldOfficial for the full acquisition of the Singapore-based company. https://reuters.peek.link/2Brq Shivam Chhuneja / @shivamchhuneja : Officially talks between Nexo and Vauld are underway. Now a term sheet by no means is a guarantee of acquisition but it is a guarantee of definite interest from the second party. This exploratory period however is 2 months for Nexo to look into Vauld, let's see what happens https://twitter.com/... Amy Castor / @ahcastor : Nexo claims it's looking to buy ailing crypto platform Vauld. This makes no sense. A new tax law makes crypto trading unappealing to the average trader in India https://t.co/G8P5bQj55M Daniel Gross / @grossdm : interesting. Crypto players are comparing the current situation to the Panic of 1907. So, who is going to be the J.P. Morgan? https://www.cnbc.com/... Ryan Browne / @ryan_browne_ : A day after suspending operations, beleaguered crypto lender Vauld has entered takeover talks with larger rival Nexo. Nexo's @AntoniNexo compared the current market situation to the “panic of 1907” and said he expects to see more consolidation in #crypto. https://www.cnbc.com/...

CNBC Ryan Browne

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Discussion

  • @darshanbathija Darshan Bathija on x
    I understand that a lot of our customers are nervous about your funds. We are working tirelessly to ensure your financials are protected. To that end, we've signed an indicative term sheet with @Nexo to acquire up to 100% of Vauld: https://www.theblock.co/...
  • @nexo @nexo on x
    In a consolidation effort aimed at the betterment of the space, as well as the strengthening of our presence in Southeast Asia, we've entered exclusive talks with @VauldOfficial for the full acquisition of the Singapore-based company. https://reuters.peek.link/2Brq
  • @ahcastor Amy Castor on x
    Nexo claims it's looking to buy ailing crypto platform Vauld. This makes no sense. A new tax law makes crypto trading unappealing to the average trader in India https://t.co/G8P5bQj55M
  • @shivamchhuneja Shivam Chhuneja on x
    Officially talks between Nexo and Vauld are underway. Now a term sheet by no means is a guarantee of acquisition but it is a guarantee of definite interest from the second party. This exploratory period however is 2 months for Nexo to look into Vauld, let's see what happens https…
  • @grossdm Daniel Gross on x
    interesting. Crypto players are comparing the current situation to the Panic of 1907. So, who is going to be the J.P. Morgan? https://www.cnbc.com/...
  • @ryan_browne_ Ryan Browne on x
    A day after suspending operations, beleaguered crypto lender Vauld has entered takeover talks with larger rival Nexo. Nexo's @AntoniNexo compared the current market situation to the “panic of 1907” and said he expects to see more consolidation in #crypto. https://www.cnbc.com/...