Crypto Lender Nexo Terminates Interest Payments on New Deposits From US Clients
Following the U.S. Securities and Exchange Commission (SEC) charging the crypto lending platform Blockfi with failing to register its retail crypto lending product and fining the firm $100 million, the crypto lender Nexo has announced it will no longer allow U.S. citizens to earn interest on new savings wallet top-ups. However, Nexo customers from the U.S. will continue to earn interest on their current savings wallet balances held prior to the announcement. Nexo ‘Reveals Big Savings News for US Customers’ Last week, the SEC cracked down on the crypto lending....
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Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws.
Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product
Following the issues that took place last year against Celsius’ and Blockfi’s interest-bearing accounts, the crypto lender Nexo has been targeted by several state....
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other transactions for customers, has been offered a way out of its troubles. On Tuesday, major crypto lender Nexo unveiled it had signed an indicative term sheet with Vauld....
A Twitter account has accused the Bulgarian co-founders of the Swiss-based cryptocurrency lender Nexo of misappropriating funds from a charity platform. The company has rejected the allegations in the anonymous attack, which comes after Nexo offered a buyout deal to troubled rival Celsius. Anonymous Allegations Against Co-Founders Circulated on Social Media A Twitter user going by the handle @otteroooo has drawn attention to media reports about misuse of donations to a charity allegedly linked to the people behind Nexo, a major provider of crypto-backed loans. In a thread published on....
Nexo's new service provides more than 75 cryptocurrency and fiat currency pairs for trading.
On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs.
Nexo to Offer Loans for Bored Ape and Cryptopunks NFT Collateral
NFTs have become a big deal in 2021 and a billion-dollar industry almost overnight. Popular collections like the Bored Ape Yacht Club (BAYC), Cryptopunks, and Meebits have sold for hundreds....