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Nexo - Last Man Standing

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by COINS NEWS 15 Views

This isn't a post to dig deep and spread fud. I am simply overwhelmed by how strong Nexo has been in spite of everything during this tough bear market alongside all of the bad news on a global financial scale.

Nexo has long been regarded as a rather sketchy lending platform and came under extremely heavy scrutiny at around the time of the Celsius as people were fleeing lending platforms en-masse as trust was shattered and people feared losing their funds

One instance of bad news which I personally didn't believe that Nexo would overcome was a raid on their offices earlier this year. However this seemed to turn out just fine for Nexo (in the short term at least) and in rebuttal, Nexo said that they would be suing the Bulgarian government because of their actions, calling them β€œshameful” and was preparing to file a lawsuit against the government seeking damages. During this time, Nexo saw a huge wave of withdrawals make their way out of their lending platform yet they weathered the storm and are still here today, seemingly being left rather unscathed by the entire experience.

A second rather large case for Nexo recently has been their battle with the SEC in America. Now, nobody is ever surprised when the SEC stick their nose into crypto and try to shake the foundations but this time they got a bite and Nexo agreed to pay a total of $45 million to US regulators to settle claims that it failed to register the sale of its Earn Interest Product (EIP). This is a HUGE sum of money to be shelling out at a time of great uncertainty yet Nexo are still here, remaining somewhat unshaken.

These few points are but a drop in the ocean for Nexo as a company and I'm sure that a lot of people here have more tales to tell regarding the company and more opinions to share which I would love to hear so please, fire away! Also, if you have any pro-Nexo arguments then I would love for you to share these please as there are always two sides to every story.

submitted by /u/denimglasses1
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