Nexo and Citigroup are in talks for strategic opportunities in crypto lending

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Nexo and Citigroup are in talks for strategic opportunities in crypto lending
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Nexo announced today that it is leading talks with Citigroup as it seeks to integrate the crypto lending space. Citigroup intends to act as financial advisor.

Through this new relationship with Citigroup and the extensive expertise of its investment arm Nexo Ventures, Nexo has the liquidity and market expertise to lead a successful integration in the crypto lending space.

The crypto lending sector has proven to be in desperate need of liquidity amid the ongoing volatility in the crypto space. Many cryptocurrency lenders such as Celsius are at risk of bankruptcy as cryptocurrency prices have plummeted over the past few weeks.

Since the cryptocurrency industry does not have a central agency akin to the Federal Reserve as a last resort for financial institutions to face bankruptcy risk, massive consolidation of the cryptocurrency industry through mergers and acquisitions (M&A) has become the way of least resistance for the remaining solvent players.

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Stability of companies facing bankruptcy

Nexo has been making a slew of acquisitions lately, with the main purpose of “injecting stability into companies facing bankruptcy and, more importantly, protecting retail investors and other investors who would otherwise be most adversely affected by the failure of multiple cryptocurrency lenders” “Refund of deposit upon request.

According to Antoni Trenchev, co-founder and managing partner of Nexo:

“We were approached by a number of Wall Street banks and decided to formally explore acquisition opportunities to help stabilize our nascent industry. At Nexo, we have long advocated for prudent practices and sustainable business models in our industry, so this Companies have amassed a lot of money for such aid deals.”

Nexo is always on the lookout for crypto companies that have been adversely affected by recent crypto market conditions, and Citigroup could be a good partner, especially as an avid advisor.

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