Nexo hires Citibank to advise on acquisitions during market turmoil

Nexo hires Citibank to advise on acquisitions during market turmoil


Crypto lending platform Nexo, says that its strong balance sheet means it can ride to the rescue to provide liquidity during the current market turmoil by acquiring the assets of struggling crypto firms. 

In a blog post, Nexo announced that it is currently receiving advice from banking giant Citigroup on how best to acquire the assets of insolvent crypto firms so that investors can regain access to blocked funds.

Last week Antoni Trenchev, co-founder and managing partner at Nexo, told Bloomberg that the current crypto crash reminds him of the Panic of 1907 — where major Wall St institutions were forced to bail out other struggling firms.

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“This reminds me, quite frankly, of the 1907 bank panic where JP Morgan was forced to step in with

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