Since the cryptocurrency lending platform Nexo's acquisition proposal for Vauld was rejected, Nexo criticized Vauld and its management team, including former CEO Darshan Bathija and other former management personnel and the creditors committee (CoC) in the latest open letter, accusing them of forcing Nexo to withdraw from the transaction and support its rival bidders without putting the best interests of creditors in mind. Nexo said that the competitor is an unknown fund management company with no performance record and no past performance to prove, but made an incredibly high annual return rate promise. "Many people voted for the bidder. This must be a secret deal that benefits the former management team and a few selected whale customers." (Blockworks)