Nexo Roars Back into the U.S. After $45M SEC Settlement!

From Fines to Fire: Nexo's Bold Return

Hang onto your hats, crypto fans! Nexo, the audacious crypto lender, is storming back into the United States with a bang, two years after coughing up a hefty $45 million to settle with the SEC. That's right, they're back and they're not messing around!

After a wild ride that saw them slapped with fines over an unregistered lending product, Nexo is diving headfirst back into the U.S. market. They're not just tiptoeing back; they're ready to make some serious noise!

Nexo returns to the U.S. market.

We are embracing renewed optimism and entrepreneurial momentum to deliver our full products to American clients in a supportive environment. 🧵

In a jaw-dropping X announcement this Monday, Nexo let the cat out of the bag: both retail and institutional clients in the U.S. can now dive into Nexo’s treasure trove of products. We're talking high-yield crypto savings accounts, asset-backed credit lines, advanced trading, and institutional-grade liquidity solutions. It's a full-blown comeback!

Remember that $45 million SEC fine from January 2023? Nexo got hit hard for their unregistered Earn Interest Product, but they're shrugging it off now. They settled without admitting or denying any wrongdoing, and now they're ready to rock the U.S. market again!

But hold on, it hasn't been all smooth sailing. Early 2024 saw Nexo trying to claw back $3 billion stuck in a criminal investigation that threw a wrench in their plans for a U.S. stock market listing and a soccer sponsorship deal. Nexo's reps are fuming, saying the investigation trashed their reputation and torched shareholder value. Yikes!

Back in January 2023, things got even crazier when prosecutors raided Nexo's offices, throwing around accusations of money laundering, tax crimes, and computer fraud from 2018 to January 2023. Nexo's management? They're shaking their heads and denying it all!

But guess what? The Bulgarian Prosecutor’s Office slammed the door on that criminal case in December 2023, saying investigators couldn't find a shred of evidence for money laundering, tax evasion, or any other crimes. Nexo is cleared, and they're not looking back!