NEXO Price Drops by 40% In Three Days as Fear From Defi Contagion and Insolvency Crypto Fund Grows
The price of Nexo (NEXO) kept falling on June 15 as crypto lending firms continued to be shaken by the crypto winter season. Nexo was speculated to be related to Three Arrows Capital (3AC), a Dubai-based crypto fund at r...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The price of Nexo (NEXO) kept falling on June 15 as crypto lending firms continued to be shaken by the crypto winter season. Nexo was speculated to be related to Three Arrows Capital (3AC), a Dubai-based crypto fund at risk of going insolvent. However, the company has denied the rumors of exposure to the company and has 100% liquidity to meet its debt obligations.
NEXO, a security token at a cryptocurrency lending platform bearing the same name, fell by almost 25% to $0.61 a unit, its lowest price valuation since January 2021. The decline experienced by ...
Read The Full Article On CryptoCurrencyNews.com
Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.
All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Why this matters
This blockchain story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoCurrencyNewsRelated market context
Multicoin exits the $1.65 billion Solana treasury company it helped launch eight months ago
Multicoin Capital has exited its disclosed stake in Forward Industries, the largest Solana treasury company, according to SEC fili...
Metaplanet burned through 83% of a $500 million credit line to build 43,000 BTC, and now it wants investors to fund the next leg
Metaplanet moved over 5,000 Bitcoin (worth about $322 million) this week, triggering market speculation that the firm might be liq...
Gaming firm GameSquare boasts a $26M Ethereum fortune, but quiet debt fine print leaves just $2.1M in real cash
GameSquare Holdings reported stronger second-quarter operations alongside a $7.83 million crypto-linked accounting loss. The gamin...
FG Nexus dumped all its Ethereum at a $45 million loss to buy mobile home parks—after earning just $144,000 in staking rewards
FG Nexus has abandoned its Ethereum treasury strategy less than a year after launch, redirecting its focus toward real estate deve...
Ethereum DeFi Platform Ether.fi Adds Tokenized Stocks and Portfolio-Backed Loans
The Ethereum staking platform is adding asset trading, fiat accounts, and borrowing through Aave as it pushes into crypto banking.
Bit Digital pledged 74% of its staked Ethereum position to a loan that can trigger a 24-hour collateral call
Bit Digital funded the majority-owned AI infrastructure company WhiteFiber without selling Ethereum or issuing new shares, but the...