Nexo Makes the Case for Why it Won’t Go Down Like BlockFi

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…

Nexo Receives Cease and Desist Order From California Regulators

The crypto lending platform Nexo has been ordered by several California securities regulators to halt its crypto yield product. The state claims that the company’s interest-bearing accounts qualify as unregistered securities that require proper disclosures and legal protections. The California Department of Financial Protection and Innovation (DFPI) announced the enforcement action on Monday. The Department said its action was part of a larger investigation of companies offering crypto interest accounts.” The DFPI has undertaken aggressive enforcement efforts against unregistered interest-bearing cryptocurrency…

Nexo Moves to Acquire Embattled Crypto Lender Vauld

Switzerland-based crypto lender Nexo has unveiled intentions of buying fellow lending platform Vauld. Nexo announced this news via Twitter on July 5, a day after Vauld halted operations due to financial challenges. Through this acquisition, Nexo hopes to better the crypto space and bolster its presence in Southeast Asia. [embed]https://twitter.com/Nexo/status/1544287488507781120?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet[/embed]   In a subsequent press release, Nexo said it signed an indicative term sheet with Vauld. This agreement will see Vauld offer Nexo a 60-day exclusive exploratory period regarding the…

Nexo Founder Explains His Case For $100,000 Bitcoin

Founder of one of the largest crypto lending sites thinks Bitcoin could reach $100,000 in 2022. That's because the Fed' won's stop printing money - making other countries turn to BTC. Antoni Trenchev, the co-founder of Nexo, one of the largest lending sites for crypto globally, shared his predictions for crypto. In the short interview, the Bulgarian businessman spoke about why he is bullish on Bitcoin. He also revealed why he thinks the "digital gold" could reach $100,000 in the middle of…

Bloomberg Publishes Fake News on China’s PBC Crypto Ban

Early 24th September, Bloomberg, one of the largest online news outlets, released fake news that drove crypto prices down. In the news, Bloomberg said that China's PBC termed all crypto transactions illegal. However, while the memo is available on the PBC website, the central bank originally on 15th September. Bloomberg Reports China's Crypto Bann China continues to add on its unrelenting determination on the crackdown against digital currencies in the country. The People's Bank of China (PBC) takes an aim…

Lending Platform Nexo Launches Crypto Exchange Service 

Three years after establishing its cryptocurrency lending and savings platform, Nexo has launched an exchange to allow users to trade several crypto-to-crypto and fiat-to-crypto pairs.  The cryptocurrency lending provider stated in a press release today that its users can now trade up to 75 cryptocurrency and fiat pairs via its in-app exchange.  Unlike regular cryptocurrency exchanges that offer fluctuating prices for crypto assets, the Nexo exchange will leverage its newly-built “Smart Routing” feature that will automatically connect to popular trading…

Nexo Review – The World’s First Instant Crypto Credit Lines

Even with all the crypto world advancements, there haven’t been many significant crypto credit facilities. However, if we are going to advocate for the mass adoption of credit facilities, we need to ensure that we have similar services as the traditional financial system provides, only with some advantages.  Fortunately, Nexo, a leading FinTech group, has taken upon itself to provide the world’s first instant crypto-backed loans. Thanks to this platform, anyone who has some crypto assets benefits from it without…