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Singapore High Court Grants Crypto Lender Vauld Temporary Protection From Creditors – Bitcoin News

Singapore High Court Grants Crypto Lender Vauld Temporary Protection From CreditorsSingapore-based Vauld will have some breathing space after the country’s High Court gave its parent company creditor protection for the next three months.
Vauld to Have 3 Months for Restructuring, Due Diligence by NexoThe Singapore High Court has granted the parent company of crypto lender Vauld, Defi Payments Ltd., a three-month protection from creditors, Bloomberg reported, noting this would allow Vauld to restructure and prepare for a potential acquisition by competitor Nexo, a major player in the crypto lending market.
A series of failures in the crypto lending sector will likely lead to greater regulatory scrutiny, the report remarks.
Nexo Optimistic About Possible Vauld AcquisitionSoon after reassuring customers about the health of its business in mid-June, Vauld started laying off employees.
Do you think three months will be enough for Vauld to restructure and finalize a deal with Nexo?

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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