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Today's cryptocurrency market showcases PEPEcoin (PEPE), Rocket Pool (RPL), Bitcoin SV (BSV), LEO, Lido (LDO), and Frax Share (FXS) as the top gainers, while WOO Network (WOO), Nexo, Klaytn (KLAY), Curve DAO Token (CRV), Internet Computer (ICP), and Chainlink (LINK) have faced losses.
Troubled crypto lender Nexo has taken steps to dismantle two of its subsidiaries in the UK. Bloomberg reports cryptocurrency lender Nexo is closing two of its units in the United Kingdom as it faces legal troubles in Bulgaria for its alleged involvement in illegal activities.
In a surprising move, Nexo, the leading cryptocurrency lending platform, announced the dissolution of its UK-based entities as part of a comprehensive company restructuring. This decision comes at a time when Nexo is cementing its position in the rapidly evolving decentralized finance (DeFi) market.
Nexo, the London-based cryptocurrency lender, has decided to dissolve two of its UK entities due to legal uncertainty prevailing in other parts of Europe. Recent filings reveal that Nexo Financial Services Ltd.
Nexo is restructuring its operations but does not plan to leave the United Kingdom.
London-based crypto lender Nexo (NEXO) has shut down two of its subsidiaries located in the U.K. on May 11, Bloomberg News reported. The lender is also going under an investigation in Bulgaria for allegedly being involved in an organized crime scheme, the Bloomberg article noted.
According to recent documents, the London-based crypto lending business Nexo has completed legalities to remove Nexo Financial Services Ltd. and Nexo Clearing and Custody Ltd.
Today's crypto market highlights Nexo (NEXO), Flare (FLR), Pax Dollar (USDP), PAX Gold (PAXG), Dai (DAI), and Tether (USDT) as the top gainers, while Floki Inu (FLOKI), PepeCash (PEPE), PancakeSwap (CAKE), Huobi Token (HT), Luna Classic (LUNC), Conflux (CFX), and Woo Network (WOO) have experienced losses.
In the crypto market's dynamic landscape, some projects have made substantial gains, while others have faced notable losses. The top gainers for today include CSPR, HBAR, ICP, QNT, LEO, and NEXO, with WOO, INJ, DYDX, Cronos, CFX, and IMX coming up as the top losers.
Today's cryptocurrency market showcases a mix of projects experiencing notable gains and others facing significant losses. Floki, INJ, WOO, CHZ, Nexo, and Zilliqa have emerged as the top gainers of the day, while Cake, Flow, FTM, Matic, NEO, and TWT are the top losers.
The cryptocurrency market has shown mixed signals today, with some projects experiencing notable gains while others face significant losses. WOO Network, Near Protocol, Immutable, Fantom, and Nexo have emerged as the top gainers of the day, while Stacks, Conflux, BitTorrent, Pancake, and XRP are the top losers.
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Nexo [NEXO] outperformed Bitcoin [BTC] in the past week (19 -25 March ). It hiked by about 19%, while BTC moved by 2% only.
Cryptocurrency platform Nexo announced that it will be listing Arbitrum (ARB) on March 23, offering trading, swaps, purchasing, deposits, withdrawals, earning, borrowing, Booster, and Card functionalities.
Bitcoin (CRYPTO: BTC) traded slightly lower, but the cryptocurrency prices traded above the key $28,000 level on Tuesday. Ethereum (CRYPTO: ETH), meanwhile, moved higher, trading above the $1,800 mark this morning.
Nexo is expected to terminate its EIP program in Ohio on April 1, 2023.
The crypto lender Nexo has resolved a settlement for $22.5 million with multiple US states, after the Ohio Division of Securities became the latest state regulator to join in.
A California resident said he "suffered millions of dollars in losses" following misrepresentations made by Nexo, in a complaint filed Monday.
The North American Securities Administrators Association and the U.S. Securities Exchange Commission already announced in January that a settlement had been reached.
As the total crypto market cap plunged from the $1.13 trillion mark, some digital currencies have dropped along with it over the past month.
Antoni Trenchev, the co-founder of crypto lending outfit Nexo, has disputed charges laid against his firms by Bulgarian authorities.
Nexo co-founder Antoni Trenchev called charges by Bulgarian police including money laundering and tax evasion 'ludicrous' after offices raided.
Nexo is one of the last crypto lenders left standing. Though, the London-based business has been under pressure as Bulgaria prosecutors charge four of its executives with crimes ranging from money laundering, organized crime and funding terrorism.
The firm settled a lawsuit by the Securities and Exchange Commission and a number of state regulators by agreeing to a $45 million fine and to kill its crypto lending accounts.
