Vauld Acquisition is still not in Place by Nexo

Crypto lender Vauld stopped the withdrawal after the Luna incident. This is a company which was providing crypto lending services and even it was offering options to invest in multiple crypto coins. This is a company which is registered in Singapore and after the Luna incident, they had to go through a tough time. Nexo which is another crypto in the crypto space announced that they are going to acquire this company.

It's been a couple of months and still, there has been no acquisition in place. In the idol scenario, it does not take this much time however Nexo still cleaning that they are in process and soon it will be done. As per Nexo, they are trying to help the users of the world get their funds back through this acquisition. If it happens and people got their funds back then it is going to be great I believe because people who have lost hope should be able to get their money back.

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This year 2022 has not been good because of multiple projects' collapse of leading platforms and exchanges in the crypto market. We have seen a lot this year which has affected a lot of people in this market and even people lost their money because of some unfair practices followed by these companies.

We are ending this year in a couple of days and now I hope with the new year things will be in a better place. Even there should not be any case where exchanges collapse because it hits the community worldwide. People who believe in these exchanges and crypto companies lose their funds because of such tragic incidents in the market. Crypto is here to stay and I am sure that things will grow in the next few years but it is time will we need to have control of our crypto holding we should not realize this on any exchange especially if we are holding a bigger amount there. Some exchangers are paying certain rewards for holding the crypto on their platform but based on some recent incidence, it doesn't seem to be a good option. I am not sharing any financial advice but I truly believe that we need to have control with us over the crypto that we hold instead of giving it to some other company or exchanges.

It is fine not to earn anything on our holding but it is not good if we lose that money because of any reason. Let's hope that this company is acquired by Nexo and people get their funds back soon. No, since the market is down so it is still a good opportunity to enter the market and buy some blue chip coins rather than buying some meme coins. Even we need to move towards the self-custody of our coins and not at all lying on any exchange if we are not trading.

Thank you so much
Stay Safe

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