Nexo has again extended due diligence on its acquisition of Vauld

Nexo has extended its due diligence process to acquire Vauld, The Block reported on Oct. 15, citing people familiar with the matter. The extension will be subject to the amount of time Nexo may require and will not be capped. Nexo was "cautiously optimistic" about a potential acquisition after meeting Vauld executives in Singapore, according to people familiar with the matter. Vauld had asked a Singapore court for a three-month period of protection and could be forced to liquidate if Vauld does not confirm a solution by November 7th. Crypto lending platform Vauld filed a creditor protection petition with a Singapore court on July 21 for $402 million in debt, BlockBeats previously reported. Vauld said it was continuing talks with Nexo, which signed a term sheet with Vauld in early July for a possible acquisition.