Insolvency not in 'Nexo's reality,' says co-founder during AMA
Co-founder Kalin Metodiev stated that comparisons between Celsius, Voyager and Nexo are “very far from reality” and that the firm is focused on building in a sustainable way. Bankruptcy or insolvency is not in “Nexo’s reality” according to the crypto lending platform’s co-founder and managing partner, Kalin Metodiev. In an Ask Me Anything (AMA) video posted via YouTube on Oct. 4, founders and managing partners Metodiev and Antoni Trenchev addressed community questions and recent FUD-related rumors that Nexo could soon face insolvency issues. Responding to a question about the....
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Analysts fear NEXO price could come under pressure if regulatory action in the United States begins to intensify. Crypto lending firm Nexo is at risk of losing half of the valuation of its native token by the end of 2022 as doubts about its potential insolvency grow in the market.Is Nexo too centralized?For the unversed: Eight U.S. states filed a cease-and-desist order against Nexo on Sep. 26, alleging that the firm offers unregistered securities to investors without alerting them about the risks of the financial products. In particular, regulators in Kentucky accused Nexo of being....
The crypto community chose to link the funds' withdrawal with Nexo's insolvency rumors due to the wallet's name — Nexo: 0x8fd. Just a few days after market analysts predicted a 50% drop in NEXO price due to regulatory pressure and investor concerns, a crypto wallet address labeled as NEXO 0x8fd withdrew 7,758.8 Wrapped Bitcoin (WBTC) — roughly worth $153M — from MakerDAO.On Sept. 26, regulators from eight U.S. states filed a cease-and-desist order against Nexo under the allegations of offering unregistered securities to investors without warning. Moreover, Kentucky regulators accused Nexo....
The co-founder and managing partner of Nexo, a major cryptocurrency lender, has predicted that the price of bitcoin will be $100K by mid-2022. He highlighted “two simple reasons” why he is bullish about the price of bitcoin this year.
Bitcoin Expected to Reach $100K by Mid-Year
Antoni Trenchev, the co-founder and managing partner of Nexo, a major cryptocurrency lender, has shared his bitcoin price prediction in an interview with CNBC Monday. He said:
I think [bitcoin’s] going to reach $100,000 this year, probably by … the middle of it.
Nexo....
On Monday, June 13, 2022, the crypto economy dropped below the $1 trillion region, as a great majority of crypto assets have lost between 10% to 25% during the last 24 hours. Meanwhile, the crypto community has been discussing the cryptocurrency lending application Celsius as rumors of insolvency have been swirling. On June 12, around 10:10 p.m. (ET) Celsius announced that it paused “all withdrawals, swaps, and transfers between accounts.” Celsius Pauses Lending Application’s Operations, Crypto Community Talks About a Possible Insolvency and Liquidations On Sunday....
Nexo platform could rescue Celsius' customers after “what appears to be the insolvency of the Celsius Network.” There’s a glimmer of hope for the bear market’s most recent victim. Following reports that Celsius is insolvent, Nexo is offering a buy-out. A Nexo representative told Cointelegraph that Nexo is trying to do the “right thing” as they are “mindful of the repercussions for retail investors & the crypto community.”Celsius suspended all network withdrawals on Monday; users are not able to access their funds. In an open letter, Nexo has extended a formal offer to acquire qualifying....