It is amazing that after the lending platforms Celsius, Voyager, and Gemini Earn have all halted withdrawals, people still have over $2 billion in Nexo.

Recent Twitter Comments about Nexo

• Nexo is like absolutely on the TOP right here! No one will do what Nexo did. They will prevail. I believe Nexo is a top 10 company.
• This transparency is what the market needed now and before! Share this so others follow Nexo's lead!
• Nexo is the only centralized loan provider that I trust. I hope you survive all of the undeserved FUD.
• If Nexo can survive this bear market and the relentless FUD recently they can survive anything!

Facts About Nexo

• Nexo has a "real-time attestation" by Armanino that is meant to show that their assets are great than their liabilities
  • Some of that data, such as OTC deals is self-reported by Nexo
  • Nexo has its own token NEXO (like FTX) which has a current market cap of $360,000,000. Some of this is counted toward Nexo's assets
• Nexo attempted to acquire BlockFi for $850,000,000 in July. That is ~40% of the current amount invested in Nexo. It is crazy to think how they had the cash for an investment like that (full disclosure, the investments in July were higher than they are now).
• Nexo says their conservative approach had them not have any FTX exposure, but they forget to mention that they withdrew $200 million from FTX in the first week of November
• Nexo is currently doing its due diligence process for a possible acquisition of the lending platform Vauld. Any purchase like this decreases Nexo's liquidity and makes it more difficult to handle a bank run.
• 8 US state regulators have filed action against Nexo this summer/fall.
• Nexo had over $9,000,000,000 of assets under management in September 2021. In 15 months, they have lost over 70% of the assets they have managed, and most of that has happened in the last 5 months. That means that Nexo might have more harder to liquidate positions than is ideal since they have had to liquidate their more liquid positions to handle the outflow of deposits.

Fool me once, shame on you, fool me 3 times, shame on me. Nexo says they are solvent, but no one really knows. Many of the investments of lending platforms are not liquid, and Nexo count's their own token in their reserves. We really have no idea how much of a bank run Nexo can handle. If you still have crypto on Nexo you should remove it.