{"id":12704,"date":"2022-06-13T11:24:56","date_gmt":"2022-06-13T11:24:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/nexo-offers-celsius-buyout-as-its-rival-platform-suspends-withdrawals\/"},"modified":"2022-06-13T11:24:56","modified_gmt":"2022-06-13T11:24:56","slug":"nexo-offers-celsius-buyout-as-its-rival-platform-suspends-withdrawals","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/nexo-offers-celsius-buyout-as-its-rival-platform-suspends-withdrawals\/","title":{"rendered":"Nexo Offers Celsius Buyout as its Rival Platform Suspends Withdrawals"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Cryptocurrency lending platform Nexo said it is interested in buying certain assets from rival Celsius, for example its collateralized loan portfolio.<\/p>\n<p>In response to <a href=\"https:\/\/igaming.org\/crypto\/crypto-lending-firm-celsius-stops-withdrawals-markets-crash\/\">Celsius\u2019\u00a0decision to suspend withdrawals and transfers<\/a>, citing extreme market conditions, fellow cryptocurrency lending platform Nexo stepped up saying it could buy certain assets, in particular the collaterized loan portfolio.<\/p>\n<p>On Monday, in a letter, Nexo offered Celsius to take over a large share of what is left:<\/p>\n<blockquote>\n<p>\u201d A substantially part of or all of the remaining qualifying assets \u2026 comprising mostly or fully of collateralized loan receivables secured by corresponding collateral assets, as well as brand assets and the customer database.\u201d<\/p>\n<\/blockquote>\n<p>The Switzerland based exchange, made the offer in a letter published on <a href=\"https:\/\/twitter.com\/Nexo\/status\/1536256598993211393\">Twitter<\/a>.<\/p>\n<p>In the announcement, Nexo added:<\/p>\n<blockquote>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">\u201cWe have been operating a sustainable business for 4+ years, based on solid fundamentals and prudent risk management. Nexo\u00a0<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> is in a strong liquidity and equity position as evidenced by the only real-time reserves attestation of a blockchain finance company.<\/span><\/p>\n<p>Whereas Celsius only audits its performance on a weekly basis, Nexo offers a more secure real-time audit of its custodial assets. It recently disclosed to have $6.2 billion in customer liabilities with assets held to an amount in excess of the amount.\u201d<\/p>\n<\/blockquote>\n<p>At the time of writing, Celsius management has not published a response.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/igaming.org\/crypto\/nexo-offers-celsius-buyout-as-its-rival-platform-suspends-withdrawals\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Cryptocurrency lending platform Nexo said it is interested in buying certain assets from rival Celsius, for example its collateralized loan portfolio. In response to Celsius\u2019\u00a0decision to suspend withdrawals and transfers, citing extreme market conditions, fellow cryptocurrency lending platform Nexo stepped up saying it could buy certain [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":12705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12704"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=12704"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/12705"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=12704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=12704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=12704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}