In the midst of market turmoil, crypto lending company Nexo hires Citibank to advise on acquisitions.

In the midst of market turmoil, crypto lending company Nexo hires Citibank to advise on acquisitions.

According to Nexo, a cryptocurrency lending platform, the strength of its balance sheet reflects the company's capacity to provide liquidity assistance to struggling crypto companies during the current market upheaval by acquiring their assets.

It was revealed on one of Nexo's blog entries that the company is currently receiving advice from Citigroup, a major financial institution, on how investors might reclaim assets from insolvent crypto companies.

When key Wall Street organizations were forced to leave the struggling companies in 1907 due to a financial crisis, Antoni Trenchev, Nexo's managing partner and co-founder, reflected on that experience in an interview with Bloomberg the previous week.

According to Nexo's blog post, the company has a status of unparalleled stability, indicating that its unique design allows it to distinctively move forward in support of developing companies, because it has always operated a supportable business model without involvement in risky lending activities.

Nexo, for example, has shown that it is willing to acquire assets from enterprises with solvency issues in order to provide immediate liquidity to clients and relief to the entire industry. This chapter has already been started, according to the platform, which claims that the crypto world is about to enter a period of broad consolidation. As mentioned in the piece, Nexo has reached out to a number of cryptocurrency startups in the past, offering a variety of options for providing liquidity support.


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As of June 13th, Nexo publicly said that it was ready to acquire some of Celsius's unusual debts, which had been revealed to be experiencing a major liquidity crisis. Concerns about the recent DeFi (decentralized finance) crisis caused a 25 percent drop in Nexo's native token NEXO on that very day, bringing it to an annual low of $0.61.

A third day later, these anxieties resurfaced as the investment business, 3 Arrows Capital (3AC), failed in its efforts to handle the margin calls and lost about $400 million in liquidation across various investments. Nexo claims that the company has no 3AC exposure. According to Armanino, Nexo differs from other troubled firms in that it has enough cash on hand to pay its debt obligations of up to $4.96 billion (the audit company based in the United States).


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