Nexo dodges $219M bullet just days before FTX’s solvency crisis

Nexo dodges $219M bullet just days before FTX’s solvency crisis

The firm withdrew its remaining balance from FTX at the 11th hour and topped weekly fund outflows from the troubled exchange. According to a Nov. 8 tweet, crypto lender Nexo currently has net zero exposure to the ongoing crisis embroiling cryptocurrency exchange FTX and crypto trading firm Alameda Research. Nexo also explained that it withdrew its entire balance of funds from FTX within “the past few days.” Alex Svanevik, CEO of blockchain analytics platform Nansen, confirmed the story, providing data showing that Nexo withdrew over $219 million from FTX between Nov. 1 and Nov. 8. This....


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