Embattled crypto lender Vauld now has until February 28th to come up with a restructuring plan without getting hounded by claims from creditors.
The company is initially set to submit its revival plan on January 20th, but Bloomberg reports that the firm successfully secured the approval of a Singapore Court to extend the deadline.
A person familiar with the matter says that Vauld received bids from two digital-asset fund managers interested to take over the management of the crypto assets on its platform. The firm has informed the court in an affidavit that discussions with the fund managers are already at an advanced stage.
Crypto lending rival Nexo Capital was also interested in buying Vauld, which sought creditor protection after halting customer withdrawals in July as