Crypto lending is making a comeback with the SEC standing down. The Nexo platform exited the US after paying $45 million in fines to regulators; now they’ve announced they’re coming back at an event they hosted in Bulgaria titled “Trump Business Vision 2025”, which featured Donald Trump Jr.
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The cryptocurrency lending platform Nexo exited the United States in 2022, amid increased scrutiny from regulators towards crypto lending firms in general following the catastrophic collapse of companies including Celsius, BlockFi, and Voyager. The firm faced significant regulatory actions in the United States, including from the Securities and Exchange Commission, Consumer Financial Protection Bureau, and eight state regulators [W3IGG]. Nexo ultimately settled with the SEC and state regulators for $45 million in January 2023 [W3IGG].
Now, with the SEC defanged, Nexo is ready to make its comeback. At an event Nexo hosted in its native Bulgaria, titled “Trump Business Vision 2025” and featuring Donald Trump Jr. as a headline speaker, Nexo announced their return to the US for both retail and institutional investors with “high-yield crypto savings accounts, asset-backed credit lines, advanced trading, and institutional-grade liquidity solutions”.32 They added, “Thanks to the vision and leadership of President Donald J. Trump, his administration, and his family, the United States is once again a place where innovation is championed, not stifled.”33](/proxy/post_attachment/496777/4412aecd6b.png "SEC
The cryptocurrency lending platform Nexo exited the United States in 2022, amid increased scrutiny from regulators towards crypto lending firms in general following the catastrophic collapse of companies including Celsius, BlockFi, and Voyager. The firm faced significant regulatory actions in the United States, including from the Securities and Exchange Commission, Consumer Financial Protection Bureau, and eight state regulators [W3IGG]. Nexo ultimately settled with the SEC and state regulators for $45 million in January 2023 [W3IGG].
Now, with the SEC defanged, Nexo is ready to make its comeback. At an event Nexo hosted in its native Bulgaria, titled “Trump Business Vision 2025” and featuring Donald Trump Jr. as a headline speaker, Nexo announced their return to the US for both retail and institutional investors with “high-yield crypto savings accounts, asset-backed credit lines, advanced trading, and institutional-grade liquidity solutions”.32 They added, “Thanks to the vision and leadership of President Donald J. Trump, his administration, and his family, the United States is once again a place where innovation is championed, not stifled.”33")
Edited 33d ago
![Alex Mashinsky has been sentenced to twelve years in prison for his Celsius fraud, which culminated in the mid-2022 collapse of the US-based cryptocurrency lending firm, causing over half a billion dollars in customer losses [I82, 71]. The government had requested a 20-year sentence; Mashinsky asked for just a single year of imprisonment. Mashinsky pleaded guilty to fraud in December, just before his case was set to go to trial, and that plea was a major factor in his receiving a substantially shorter sentence than Sam Bankman-Fried’s 25 years.
Photo of Alex Mashinsky on stage, wearing a shirt with the Celsius logo and the slogan “Banks are not your friends”. CC BY 2.0, WebSummit, https://flic.kr/p/2mGvJLc](/proxy/post_attachment/496779/0719eef7cb.png "Alex Mashinsky has been sentenced to twelve years in prison for his Celsius fraud, which culminated in the mid-2022 collapse of the US-based cryptocurrency lending firm, causing over half a billion dollars in customer losses [I82, 71]. The government had requested a 20-year sentence; Mashinsky asked for just a single year of imprisonment. Mashinsky pleaded guilty to fraud in December, just before his case was set to go to trial, and that plea was a major factor in his receiving a substantially shorter sentence than Sam Bankman-Fried’s 25 years.
Photo of Alex Mashinsky on stage, wearing a shirt with the Celsius logo and the slogan “Banks are not your friends”. CC BY 2.0, WebSummit, https://flic.kr/p/2mGvJLc")
