Nexo claims “smear campaign” ignores its attempts to aid insolvent companies

CryptoSlate spoke to Nexo co-founder Antoni Trenchev regarding Nexo’s determination to summation security to $775 million, its moves to connection assistance to struggling crypto firms, and the caller allegations claiming Nexo is successful trouble.

Trenchev told CryptoSlate that its determination to summation security levels was a portion of an ongoing program to amended information unrelated to caller marketplace volatility. Nexo holds assets successful custody with 3rd parties which are “fully protected” should “something happens to these assets nether the attraction of our third-party custodians.” Nexo has not had to telephone connected immoderate of the insurances it holds.

Further, Trenchev confirmed that each loans are “strictly collateralized” and claimed it is”the astir security-focused lender” successful crypto. Amid allegations that Nexo whitethorn besides beryllium secretly insolvent, Trenchev said its nationalist concern with its third-party custodians means they “are assured everything is arsenic it should be.”

The Nexo Co-Founder refused to remark connected the imaginable root of caller allegations stating that “the caller sound successful the abstraction is thing different than a smear campaign.” In fact, Trenchev declared Nexo is successful a coagulated presumption compared to others successful the industry.

“A fewer of the better-known companies successful the abstraction are seemingly adjacent to insolvency and the assemblage is successful turmoil. In stark contrast, Nexo continues to relation usually and adjacent has capable liquidity reserves to connection assistance to these companies– we purpose to reconstruct nationalist assurance and assistance their adversely affected clients and investors.”

In effect to the authorities of Nexo’s connection to get Celsius’ assets Trenchev asserted  that “there are respective ongoing processes for which Nexo has been approached to assistance with the proviso of liquidity.” Further, Trenchev affirmed that Nexo is “committed to being portion of the solution” to reconstruct the estimation of crypto lending.

A recent station by Celsius stated that it is exploring “strategic transactions” to “stabilize” its liquidity issues. Neither enactment has neither confirmed nor denied that they are successful negotiations.

Disclaimer: Nexo is an advertizing spouse for CryptoSlate.

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