The firm has faced a legal dogpile from state and federal regulators within the U.S. as scrutiny on lenders ramped up over the past year.
In particular, the firm noted a recent scramble from state regulators and the federal Consumer Financial Protection Bureau to investigate Nexo's"Earn" offering.
They are insolvent and are clearly running a Ponzi. Get your money out now.
Yeah, the regulations are ABSURD. Nexo even bought a stake in an SEC-registered broker-dealer in New York and again it is not enough.
Translation - “US regulators fucked your way to earn good money on your $ again” by punishing the good companies and leaving the bad to scam you. Maybe try to focus on FTX and the actual bad guys? Can’t believe this
The crypto hedge fund i started with OpenAI thinks there is a 'relatively high' probability of Nexo being insolvent given the recent news and events.
lmwao dey don't want deir hedgefund threatened with oversight