Crypto Crisis: Struggling Crypto Lender About to Be Acquired by Rival [TheStreet.com]
Coinbase Global, Inc. - Class A (COIN)
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Source: TheStreet.com
And the great crypto shrinkage continues... The crypto platform Nexo, which recently made an offer to buy, stepped up on July 5 to say it signed a term sheet with Vauld to buy the struggling crypto financial services company. 'The Bank Panic of 1907' The agreement gives Nexo a "60-day exclusive exploratory period" of its intended acquisition of Vauld, pending a due diligence review. "In a consolidation effort aimed at the betterment of the space, as well as the strengthening of our presence in Southeast Asia, we’ve entered exclusive talks with for the full acquisition of the Singapore-based company," Nexo said in a . Nexo said that the current market conditions "are to a large degree reminiscent of the Bank Panic of 1907, characterized by excessive leverage in the system, an overabundance of companies in trouble, and no lender of last resort." "Today, it is again in the hands of a few capable and well-capitalized entities to come up with systemic solutions and aid the sector,"
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COIN
Earnings
- 2/15/24 - Beat
COIN
Sec Filings
- 4/23/24 - Form 144
- 4/22/24 - Form 4
- 4/19/24 - Form 8-K
- COIN's page on the SEC website