The crypto borrowing and lending platform Nexo recently provided transparency into exactly how its business makes money. Its lengthy breakdown follows the collapse of numerous high-profile crypto lending firms that were overexposed to defunct projects and businesses. Nexo’s Business Model As Nexo explained in a Twitter thread on Monday, Nexo’s primary business strategy is to facilitate collateralized credit. Its core services include crypto collateralized loans, interest-bearing crypto accounts, and spot, futures, and options trading. Through its Earn product (crypto interest…
Tag: ICO Fraud
US Man Sentenced to Prison for Fraud Of Over $20M From ICO Investors
A man from San Francisco will go to jail after a US court convicted him of multi-million dollar cryptocurrency fraud, as the Department of Justice (DOJ) said in a statement on Tuesday. 33-year-old Jerry Guo was sentenced to six months in prison by US District Judge Beth Labson Freeman and nearly $4.4 million in restitution after pleading guilty to ICO fraud. During the ICO craze height in 2018, Guo introduced himself to his clients as an ICO advisor and offered…
2 years ago 
457
views