Vauld applied in Singapore for protection from creditors in July and signed an initial agreement with Nexo the same month. Nexo, however, said talks are still taking place.
Liquidity issues at BlockFi, Genesis, Celsius and other lending firms have tarnished this once-promising growth sector. But not all crypto lenders are created equal.
While a bankruptcy court should appoint an independent examiner to investigate Celsius’ financials, the examiner should not work for the U.S. Trustee’s office, a group of Celsius borrowers said.