Nexo hires Citibank for acquisition advice amid market crash


Crypto funding platform Nexo has brought in Citibank to help struggling crypto companies gain access during the current market volatility. The company has said its strong balance sheet will provide liquidity despite the fall in cryptocurrency prices. Additionally, if crypto ventures go bankrupt, Nexo intends to acquire its assets so that investors can recover the money invested.

In a statement, Antoine Trenchev, co-founder and managing partner of Nexo, compared the current crypto crisis to the panic of 1907, at a time when it was forcing major Wall Street institutions to bail out other failing companies.

Tranchev said it reminded him of the 1907 banking crisis, when JPMorgan had to intervene with its own capital and rallied those who could pay to solve the problem. According to Nexo, they are preparing the crypto business to enter a period of massive consolidation.

This is a time when he feels things have already started for the remaining solvent firms. This reflects Nexo’s willingness to provide its customers with quick money to buy assets from companies with solvency problems and relief for the industry as a whole.

Nexo offers private liquidity support

Companies in financial difficulties are already receiving private liquidity support from Nexo. Following Celsius’ ongoing liquidity crisis, it has recently appeared that they are willing to receive some of Celsius’ outstanding loans.

Armanino, an accounting firm, has revealed that unlike many other organizations in the industry, Nexo has all the liquidity needed to repay £4bn of debt.

Problems with high-yield APY

Celsius was one of the fastest growing companies in the crypto industry. At the time of the company’s demise, Celsius had 800 employees, a growth of more than 200 percent in one year.

The point is that the crypto market is currently in a bear market and for companies to continue to operate properly, they need access to liquidity. Liquidity is now a major concern for crypto investors as most general investors and institutions have sold their crypto holdings.

How Nexo is surviving the current market industry volatility and bankruptcy

Panic is probably the worst form of leadership. However, if you’ve succumbed to that feeling lately, you’ve got a pass. For some time now, red has been the dominant color on the trading screen in the traditional and crypto markets, indicating that both are in a bear market. The world’s central banks are squeezing liquidity and raising interest rates in ways the younger generation probably never imagined.

Therefore, here are the highlights of Nexo’s efforts to educate its customers, which sets it apart from most blockchain companies: its ability to help others despite volatility and safeguards to protect its customers’ assets. Capability.

To ensure the security of its customers’ funds, Nexo built its business model on the basis of traditional finance and blockchain. These principles include secured lending and insurance, fully automated processes; worldwide licensing; prudent risk management; and reserve checks in real time.

At a time when financial markets are in turmoil, Nexo says it will offer its customers the most stable and reliable blockchain services. This is because they can manage their money the way they see fit.

In a press release, Nexo emphasized that they will remain firmly committed to their roadmap no matter what happens in the future. Additionally, they will continue to exceed expectations by delivering products that improve the financial independence of the community. Nexo is a beacon of stability due to its careful risk management. It is a sustainable and successful business strategy that works in both up and down cycles and prioritizes platform excellence.

In these uncertain times, Nexo wants to play an important role in strengthening the blockchain ecosystem. The potential of the cryptocurrency business is just the beginning and Nexo wants to ensure the safety of as many investors as possible while maintaining public trust.



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