Crypto lender Nexo has again extended the due diligence period to decide on its potential acquisition of Vauld, an embattled rival, a person with direct knowledge of the matter told The Block. Nexo initially signed a 60-day exclusive due diligence agreement with Vauld on July 5, a day after Vauld halted client withdrawals.
Now the new extension would be “as long as needed,” the person said, adding that Nexo is “cautiously optimistic” about the potential deal after meeting Vauld’s executives in Singapore. Last week, Nexo co-founder Kalin Metodiev said in an ask-me-anything session that the due diligence period has been extended, without providing a specific timeline. Metodiev said “any distressed transaction is not easy” and that Nexo is hopeful for a win-win situation.https://www.theblock.co/post/177233/nexo-once-again-extends-due-diligence-period-on-potential-vauld-deal