Who Will Buy Puerto Rico-Based Noble International Crypto Bank Amidst Firm Shakeups
Who Will Buy Noble International?
There are several reports around that Noble International, a financial service based in Puerto Rico, is searching for a buyer. According to a report from The Block Crypto, which reached several sources from the industry, the company is indeed looking for buyers at this moment, mainly because it has lost many important clients recently.
The company, which provides tech for crypto and OTC markets, is been searching for a buyer for months, according to the reports. Ever since this Monday, the company is operating with a skeleton crew only and they are counting the days while they try to sell the company before they have to file for bankruptcy.
Reports indicate that the company is looking for a buyer willing to pay about $5 to $10 million USD. According to the sources, Noble’s troubles began after the company lost Tether as a client, which was one of the major clients that they had at the time. After that, the situation went downhill.
At the moment, it is not sure why Tether ended its relationship with Noble, however, it seems like the company has already found another partner.
Executives Changing Without Clients Being Informed
The trouble seems to be even worse after the company decided to change the CEO of the company. The co-founder John Betts opened space for Krishan Singh, which has been operating the company ever since. However, there was a huge communication gap about this decision as most of the clients were not informed.
A client which talked to The Block Crypto has affirmed he has not received a single email from the company explaining the change in management. The top management was often described as “toxic” and lacking transparency.
At the moment, there is no additional information about any potential buyers for the company.