On-chain data shows that addresses related to crypto lender Nexo are recording outflows following news of financial crimes investigations by the Bulgarian government. Crypto intelligence platform Arkham Intelligence dashboard showed that the crypto lender had seen outflows of roughly $9 million since the news broke. Source: Arkham Intelligence A breakdown of the transactions showed that…
Crypto lender Nexo announced on Dec. 5 that it was phasing out its products and services in the United States due to a lack of regulatory clarity. Today we are announcing the regrettable but necessary decision that Nexo will be phasing out its products and services in the United States due to a lack of…
Nexo announced that it has resolved the bug that stopped displaying the real-time audit of its assets and liabilities. A Nexo representative confirmed to CryptoSlate that “the Armanino timeout has been resolved and it’s all up and running now.” Earlier today, the company said it experienced similar oracle technical difficulties in the past and has…
Zash, an enterprise-grade blockchain indexer, has announced a partnership with Nexo. As part of the partnership, Nexo will integrate Zash into its platform in order to develop new valuation and pricing tools for NFTs. The integration is part of Nexo’s broader push to extract more liquidity from the crypto market and expand its offering. In…
Nexo, a digital asset lending platform, announced that it has acquired a stake in Summit National Bank. The company now owns an unspecified stake in Hulett Bancorp, the holding company that owns the federally chartered bank. Nexo called the acquisition an “industry-changing transaction,” as it will expand Nexo’s footprint in the U.S. and enhance its…
Nexo revealed that it stopped onboarding new U.S. clients to its Earn Interest Product in February 2022 after financial regulators in eight states initiated legal actions against it. According to the U.S., Nexo violated securities law by offering their residents interest-bearing crypto accounts. California issues cease and refrain order California’s Department of Financial Protection and…
Nexo, a leading cryptocurrency lending platform and exchange, has introduced a new feature on its platform — the Nexo Booster. Launched earlier this year as part of the Nexo app, the Booster is now set to bring more functionalities to the platform’s web users and enable them to grow their holdings further. The Nexo Booster…
Europe-based digital asset exchange Nexo has launched a new product to complement its existing retail platform. Dubbed Nexo Prime, the new proprietary prime brokerage platform targets institutional investors, corporations, and high-net-worth individuals. According to Nexo, the Nexo Prime platform is designed to serve as a unified platform that provides investors with access to advanced tools…
Nexo announced today that it has launched Nexo Ventures, its in-house Web3 focused investment and acquisition fund. The move follows several major initatives, such as crypto debit cards and an NFT lending desk, that are set to bring Nexo to the forefront of the DeFi market. Nexo promises $150 million in long-term commitments According to…
Debit cards are becoming increasingly popular among crypto users. Leading the pack, Coinbase and Crypto.com cards, among others, are already in the market. As announced today on, American crypto derivatives exchange FTX is next in line launching a Visa card to its customers. FTX users are now allowed to sign up for the card by…