Bankruptcy or insolvency does not threaten the Nexo crypto lending platform. About it declared Kalin Metodiev, managing partner of the company.
During the session AMA the founders of the company, Metodiyev and Antoni Trenchev, commented on the rumors about the potential financial insolvency of Nexo.
Asked if the company will be “the next Celsius or Voyager”the first explicitly stated:
“Insolvency, bankruptcy is by no means the reality of Nexo. We believe, hope, strive and work very hard to ensure a strong and sustainable future for our users.”
He denied the similarity of the position of the platform with the two above-mentioned projects.
In addition to his comment, Trenchev emphasized that Nexo is not on the list of creditors of the collapsed Terra and Three Arrows Capital, unlike Celsius and Voyager.
In September, a number of US regulators filed charges against Nexo. Dirty Bubble Media Podcast Contributor Mike Burgersburg noted the opinion of departments: between bankruptcy and the company is the only asset – its own token. The platform owns a significant volume of NEXO, and a collapse in the price could negatively affect its financial strength.
According to an independent audit platform Armanino, liabilities of 186,188 BTC (~$3.7 billion) are more than 100% secured by assets held by Nexo. However, the attestation does not provide any details.
Asked if the firm intends to provide a breakdown by type of assets held in reserves, Metodiyev said they are committed to transparency but are sensitive to privacy concerns.
“The more disclosure we can provide, the better for the community, users and investment decision makers. We would continue to increase transparency, but we must ensure that this does not reduce our competitive advantages,” he said.
Recall that in June Nexo expressed its readiness to buy out the loan portfolio of the bankrupt Celsius.
The platform also began acquiring another struggling competitor, Vauld.
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Bankruptcy or insolvency does not threaten the Nexo crypto lending platform. About it declared Kalin Metodiev, managing partner of the company.
During the session AMA the founders of the company, Metodiyev and Antoni Trenchev, commented on the rumors about the potential financial insolvency of Nexo.
Asked if the company will be “the next Celsius or Voyager”the first explicitly stated:
“Insolvency, bankruptcy is by no means the reality of Nexo. We believe, hope, strive and work very hard to ensure a strong and sustainable future for our users.”
He denied the similarity of the position of the platform with the two above-mentioned projects.
In addition to his comment, Trenchev emphasized that Nexo is not on the list of creditors of the collapsed Terra and Three Arrows Capital, unlike Celsius and Voyager.
In September, a number of US regulators filed charges against Nexo. Dirty Bubble Media Podcast Contributor Mike Burgersburg noted the opinion of departments: between bankruptcy and the company is the only asset – its own token. The platform owns a significant volume of NEXO, and a collapse in the price could negatively affect its financial strength.
According to an independent audit platform Armanino, liabilities of 186,188 BTC (~$3.7 billion) are more than 100% secured by assets held by Nexo. However, the attestation does not provide any details.
Asked if the firm intends to provide a breakdown by type of assets held in reserves, Metodiyev said they are committed to transparency but are sensitive to privacy concerns.
“The more disclosure we can provide, the better for the community, users and investment decision makers. We would continue to increase transparency, but we must ensure that this does not reduce our competitive advantages,” he said.
Recall that in June Nexo expressed its readiness to buy out the loan portfolio of the bankrupt Celsius.
The platform also began acquiring another struggling competitor, Vauld.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
