Nexo offers to buy Celsius loan portfolio
- June 13, 2022
- 0
Crypto loan platform Nexo has announced that it is ready to purchase a loan portfolio from rival Celsius. The campaign is valid until 20 June. All Nexo products
Crypto loan platform Nexo has announced that it is ready to purchase a loan portfolio from rival Celsius. The campaign is valid until 20 June.
All Nexo products work normally – Borrow, Earn, Exchange, Nexo Card.
As always – deposits and withdrawals are processed instantly so you can all make the necessary adjustments in this latest drop in the markets. a/
— Nexo (@nexo) 13 June 2022
“As a show of goodwill to support the digital asset ecosystem during these difficult times, we reached out to the Celsius team yesterday to offer our support, but were denied. We believe much can be done to assist Celsius customers.
Nexo stressed that buying a competitor’s loan assets is “in a strong position with liquidity and equity.”
On June 13, crypto lending platform Celsius suspended withdrawals, swaps and transfers between accounts “due to extreme market conditions”. This happened against the background of the cryptocurrency market crash – bitcoin dropped below $24,000, Ethereum hit around $1220.
The CEL token suddenly dropped from around $0.475 to $0.09. The asset is currently trading at $0.2. According to CoinGecko, the drop over the past day was 48.8%.
Recall that in May, Celsius founder and CEO Alex Mashinsky blamed “Wall Street sharks” for the collapse of the cryptocurrency market.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
