nexo Reboots U.S. Operations After SEC Settlement
Crypto lender Nexo is making a comeback in the United States. Two years after paying a $45 million fine to the SEC, the firm is ready to serve American clients again.
Nexo announced on X that it’s reopening it’s doors to U.S. customers. This includes retail and institutional users. they will now enjoy Nexo’s full suite of services. Thes services range from high-yield crypto savings to asset-backed credit lines.
The SEC fined Nexo in 2023 for not registering its lending product. Despite this setback, the company is optimistic. They believe the market is now more welcoming. Their return brings a variety of crypto products to Americans. This move follows a challenging period. The SEC fined Nexo for an unregistered lending product. The company didn’t admit guilt but agreed to the settlement. Now, they’re back with advanced trading and liquidity solutions.
CEO Antoni Trenchev shared the news. He sees a positive shift in the regulatory landscape. This allows Nexo to offer its services without restrictions.
Though, Nexo faced more hurdles.In 2024, they tried to recover $3 billion linked to a stalled criminal probe.The investigation hurt their plans for a stock market debut and a sports sponsorship.
Regulatory scrutiny isn’t new for Nexo. In 2023, their offices were raided. Prosecutors suspected money laundering and tax evasion. Yet, Bulgaria’s prosecutors closed the case in late 2023. They found no evidence of wrongdoing. The firm faced another blow when a criminal probe disrupted their growth. The investigation affected their stock market debut and a soccer deal.The firm blamed the probe for damaging their reputation and investor value. They denied all charges. the Bulgarian authorities cleared Nexo of any wrongdoing in December 2023. This cleared the path for their U.S. relaunch. The SEC settlement was a turning point.it allowed Nexo to rebuild trust. They’re eager to prove their commitment to compliance. Their return signals a fresh start. They aim to regain their market position. The crypto lender vows to comply with U.S. laws. they’re keen to restore their image. They want to rebuild their reputation and regain investor confidence.
Key offerings include:
- High-yield crypto savings
- Asset-backed loans
- Institutional-grade liquidity solutions
Nexo’s comeback shows the crypto industry’s resilience. They’re keen to show they’ve learned from past mistakes. They’re ready to rebuild their standing. The crypto market is evolving. Nexo hopes to lead the crypto lending space.
