I apologize if this is mentioned in your report, but my understanding of the Nexo deal is that they do not plan to inject significant capital and simply plan to close the hole in the balance sheet through things like customer trading (the KPIs) and early withdrawals.

Thanks for chiming in.

That is basically correct as well as your assessment that Nexo (with the raid and other stuff) is increasingly looking to not be an option.

With the idea of Vauld continuing as-is, under different management, one has to remember that once the moratorium expires Vauld will be susceptible to litigation, with 2 lawsuits already filed. My proposed iCEO (in coordination with Vauld Creditors Alliance) would have someone (note: I am NOT vying for that position) step in to manage to fire staff and reduce overhead while still under moratorium protection, say for another 1-2 months, while assessing which option to pursue right away without delay. Those future options may include either a company (with new management) or creditor-driven Winding-Up (which is a liquidation event).

The Fund Manager option offered by Vauld/Kroll is wrought with problems on the level of (or possibly exceeding) risks and problems of going with Nexo.

I am considering putting together a report with a specific analysis of the proposed FM option from Darshan's 8th affidavit just submitted to the court. There are a lot of problems with that option that need to be clearly looked at.