According to The Block, after Nexo once again extended the due diligence time for the acquisition of the lending platform Vauld, Vauld applied to the Singapore High Court to extend the creditor protection deadline to March 7, 2023. The existing creditor protection expires on 11 July 7th. Vauld said in court documents that the four-month extension is needed to prevent legal action while the restructuring plan is presented to creditors and any potential investors. Earlier this month, Vauld also formed a creditors committee of 17 undisclosed Vauld creditors, according to court documents. In July, Vauld suspended trading and deposits and withdrawals on the platform, and is open to potential restructuring plans. In mid-July, Vauld sent a letter to its creditors and disclosed a total shortfall of about $70 million. As of now, its asset value is about 330 million U.S. dollars, and its liabilities are about 400 million U.S. dollars. The main factors are the mark-to-market losses of Bitcoin, Ethereum and MATIC transactions, as well as losses caused by the unpegging of UST.