"Nexo's ambition to get Vauld can be achieved"
Cryptocurrency lending company Nexo has denied false statements about its exit from acquiring the most troubled company, Vauld.
The rumor was sparked when Vauld's founder and Chief Executive Officer (CEO), Darshan Bathija sent an email to his company's creditors mentioning that their negotiations with Nexo have not reached a resolution to date.
Vauld reportedly halted production from its platform in early June after it was found to have a debt load of $402 million.
According to Nexo's managing partner, Kalin Metodiev stated that he will try to help Vauld's creditors recover their funds after signing an agreement aimed at owning the company.
In the meantime, Nexo has sent an open letter to Vauld's creditors and suggested amendments following the unfair decision from the Kroll administration in Singapore.
This follows because the administration does not wish to expose the risk to former creditors while encouraging them to rely on aggressive returns to recover their losses.
The string, Metodiev expressed his frustration when some individuals are willing to block creditors from making their own decisions in order to achieve their fraudulent agenda.
As such, Nexo intends to generate the entire Vauld cryptocurrency and once again allow customers to borrow, acquire and exchange their respective digital assets through its new account.
