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Nexo Says It’s Nothing Like Celsius and Other Crypto Lenders. Here's What the Data Shows

Decrypt LogoDecrypt1 mo ago

Nexo Says It’s Nothing Like Celsius and Other Crypto Lenders. Here's What the Data Shows

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While Nexo fights to clear its name, some of the lender's largest wallets, including what Nansen says is its on-chain corporate treasury, show a $838 million balance.

All of this is to say that a sizable portion of capital sitting in Nexo wallets is being held as ETH, stablecoins, or been lent out to protocols that require loans to be overcollateralized.

The problem that Nexo is facing, trying to distinguish itself from other crypto lenders, is one that Armanino set out to solve with its TrustExplorer product.


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Article Details

Author / Journalist: Stacy Elliott

Category: Crypto

Topics: Alameda Research Celsius Long Reads Trading BlockFi Investing Crypto lending Ftx Nexo

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-28, 21:13:22

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Reading Time: 7 minutes read

Article Length: 1240 words

Coverage Area: Estonia

Availability: Desktop Web, Mobile Web

News ID: 22358

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About Decrypt

Decrypt Logo

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 10 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 8h ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #63

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