Vauld’s Crypto Winter: Court Grants Extension for Potential Takeover

Updated: 1 year

• Crypto winter of 2022 led to the bankruptcy of many companies, including Vauld.
• Vauld was granted three-month creditor protection, which was then extended by a Singapore court till February 28, 2023.
• Vauld is in negotiations with two digital asset fund managers to potentially take over its remaining assets.

The crypto space was rocked by the tumultuous events of 2022 when the crypto winter swept in and caused immense losses for many firms. Vauld, a crypto lending firm, was among the casualties as it was unable to withstand the pressure of the bearish trend. This led to the firm suspending withdrawals on its platform and eventually filing for protection from its Singaporean creditors.

However, hope was not lost for Vauld as the Singapore high court granted the firm an extension period of over a month to devise a revival plan. The firm is currently in negotiations with two digital asset fund managers who have expressed interest in taking over the remaining Vauld assets. If successful, the takeover could potentially save the firm from its current predicament.

Vauld’s negotiations with the two digital asset fund managers have advanced and require more time to conclude. The court, in its wisdom, granted the firm till February 28, 2023 to finalize the details of the potential takeover. This extension period is a welcome reprieve for Vauld, as it may just be enough to save the firm’s remaining assets.

The crypto space is still in a state of flux, and the future of Vauld remains uncertain. However, the firm’s creditors have given it an extra chance to salvage its predicament, and we can only hope that Vauld is able to make the most of it. Time will tell whether the firm can successfully navigate these troubled waters and come out the other side with its remaining assets intact.

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