Breaking: Vauld’s Backup Plan Amid Nexo Deal Talks, Customer Fears

As Vauld customers await a plan towards resolving the fund crisis, the company looks all set to reveal an update. Also, the company is yet to reveal how the talks with Nexo are going with respect to a potential 100% acquisition. Meanwhile, Vauld co-founder Darshan Bhatija is speaking to the user community on the company’s official Telegram channel.

What If Vauld Nexo Deal Tanks?

Asked what could be the alternative of the Vauld Nexo deal does not materialize, the cofounder responded positively. He said the crypto platform could soon make more information available around the backup plans. Also, the customers are seeking reassurance about their funds.

Importantly, Bhatija said fixed deposit investors would continue to earn interest after they mature. Amid the talk of a potential Nexo deal, it was not clear as to what would be the future of deposits. The Vauld cofounder also said there could be some clarity soon on the future of user funds. However, it is still work in progress when it comes to withdrawals and trading on Vauld.

“(There could be some clarity) this week since we are making relevant disclosures to the court system. About withdrawal and trading, we don’t have timelines yet but are working on it.”

Vauld Users To Get Emails With A Reassuring Update?

When a customer asked for reassurance from the Vauld team, Bhatija said customers would get an email later today. We have not heard a single word of reassurance from you or from a single admin, said one customer named Crypto Clown. In reply, the Vauld co-founder said the team is standing with users, and that they will receive an email.

“We’re here, standing with you. You will receive an email today.”

There is still more to identify on how big Vauld’s balance sheet liability is and what its action plan is. Bhatija said information on its plans to finance liabilities will be made public any time today.