Month-long acquisition talks fell through.

Vauld has a deadline of January 20 to submit a restructuring plan to lenders; therefore, Nexo and Vauld’s acquisition talks have not yet resulted in an agreement.

Nexo is adamant about continuing to work for the benefit of creditors.

“We are still dedicated to providing creditors with the best possible road to recovery,” Nexo stated that it was committed to keeping up its efforts on behalf of lenders and the growth of the blockchain ecosystem.

After Vauld stopped accepting withdrawals and recruited consultants to look at a potential restructure, the firms started negotiating the transaction in July.

Nexo’s Dec. 5 declaration of a phase-out in the US is one obstacle to a deal.