Nexo has announced it will not finally acquire its rival crypto lending platform Vauld after six months of negotiations.
According to Vauld CEO Darshan Bathija, the “negotiations, unfortunately, were not successful.”
The parties have been discussing the takeover since July, when Vauld suspended operations and announced a possible restructuring of the business.
After the conclusion of the preliminary agreement, Nexo twice extended the deadline for making a final decision.
Bathija has said:
“We have sought a mutual agreement with Nexo to terminate existing exclusivity arrangements, and we continue our engagement with the shortlisted fund managers to develop a viable strategy that would best serve the interests of lenders.”