ANOTHER ONE BITES THE DUST - NEXO EXITS TO THE LEFT😩👀

Merry Christmas everyone! I hope you had a fun weekend!

Let’s chat about NEXO. Do you remember last year around this time when I told you that NEXO asked me to take my assets off of their platform because they weren’t authorized to operate in the state of New York? Well, I read today that they have phased out their high-yield product for U.S. customers, see tweet below:

NEXO’s co-founder after an interview with Yahoo Finance said, “Our decision comes after more than 18 months of good-faith dialogue with US state and federal regulators which has come to a dead end,” 😳🤷🏾‍♀️

When Celcius filed for bankruptcy protection, NEXO publicly made an offer (via Tweet) to acquire “qualifying assets” of Celcius after they froze customers’ accounts. They also reminded their customers that they had gone the extra mile, showing that their assets exceeded their liabilities. Few companies in the crypto/blockchain space have done this.

It really should be standard practice that crypto platforms that are looking to grow their customer base and build trust with their customers, conduct frequent proof of their liabilities. Customers need to know that the crypto exchanges they’re dealing with have a good reputation among their peers and that their assets on that platform will be protected.

Of course, we know that investing in cryptocurrency is a high-risk endeavor and that we don’t take the money for our bills to invest in crypto (or any stock for that matter). But even with the risk involved, it would help to bring more peace of mind if customers had transparency with their crypto exchanges of choice.

Our peace is found in Christ, and when we don’t have a leading of peace, we don’t do anything! Isaiah 55:12, we are led forth by PEACE! See ya tomorrow, peace out! 😜🙏🏿

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.