Summit National Bank is a US federally chartered bank, founded in 1984. Customers of Summit will now have access to blockchain products. Nexo, a cryptocurrency lending platform, recently revealed that it was acquiring a stake in Summit National Bank, based in Wyoming. Taking a stake in the US federally chartered
Similar lawsuits have been filed against Nexo in Kentucky, Vermont, South Carolina, and Maryland. Similar law enforcement actions were taken against Celsius in 2021. On Monday, state securities regulators in California and several other states took action against the crypto lender Nexo, labeling the company’s Earn Interest Product (EIP) unregistered
Top 5 cryptocurrencies by an increase in price are EOS, SNX, LDO, AAVE, and NEXO. EOS increased around 17% in the last 7 days. The whole cryptocurrency market experienced a massive crash as a result the top cryptocurrencies fell into the gloomy market. However, the crypto market recovering from more
The top 5 gainers of the day are FTM, NEAR, ETC, CRV, and NEXO. Currently, Fantom and NEAR Protocol are leading in the gainers’ list. Let us look at the top 5 gainers of the day as per CoinMarketCap. Fantom (FTM) Fantom is the latest open-source smart contract platform for
On Monday, the company suspended operations and stopped client withdrawals. Since June 12, withdrawals totaling $197.7 million have been reported by the firm. The Singapore-based crypto lender Vauld has inked a preliminary term agreement with Nexo today. Due diligence on the proposed purchase would be conducted by Nexo within a
In effect, it has drafted an offer to Celsius in the form of an intent letter. Celsius said today that it stopped withdrawals, swaps, and transfers. The Celsius event rattled the crypto industry more than the market-wide weekend slump. The staking and lending platform was criticized for its inability to
Introduction It isn’t the same as owning cash when it comes to cryptocurrency. Some exchanges, however, enable you to deposit cryptocurrency and receive interest like a savings account. If you put your crypto up as collateral, several services allow you to borrow money from them. Nexo is yet another cryptocurrency
After a long bearish run, the crypto market is currently experiencing a bullish trend. The mainstream cryptocurrencies are displaying a greenish trading pattern, while investors have begun to buy tokens. Since the market crashed, investors and whales have begun to purchase potential crypto assets to produce more gain in the
