Nexo platform offered to buy Celsius’ crypto assets
This came after Celsius suspended withdrawals, exchanges, and transfers between accounts, citing “extreme market conditions”
![Nexo platform offered to buy Celsius’ crypto assets](https://storage.getblock.net/source/1/7t4-tmNfdSLO5GQmWA2usFbLVihd-TC-.webp)
13.06.2022 - 11:15
342
1 min
0
What’s new? Crypto lender Nexo wants to buy the assets of the Celsius platform. Nexo representatives said on Twitter that the company has enough liquidity and equity capital to acquire the remaining assets of Celsius, primarily their collateralized loan portfolio. The crypto lender has provided a formal letter of intent regarding the lending platform’s debt.
What does the letter say? The company, its partners, and affiliates are ready to acquire from Celsius part or all of the eligible outstanding collateralized loan receivables, subject to Nexo’s risk management requirements. The offer is valid until June 20.
What is known about Nexo? It is an instant loan service secured by cryptocurrency deposits based on the Ethereum blockchain. Nexo was founded in 2018. One of the founders and managing partners is Antoni Trenchev. Nexo currently manages the assets of 4 million users in 200 jurisdictions.
Earlier, Celsius, a DeFi lending platform, suspended withdrawals, exchanges, and transfers between accounts citing “extreme market conditions.” Against this backdrop, the value of the native token CEL fell by more than 50%, according to Binance. As of June 13, 11:00 UCT, the asset is trading at $0,2.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024