The native token of crypto lending platform Nexo has jumped by around 5.3% following the launch of its Ethereum Smart Staking product.
Nexo's Ethereum Smart Staking enables users to swap ETH for Nexo Staked ETH (NETH) and receive staking rewards of between 4% and 12% APY, paid out in NETH. Nexo is one of 22 investors in Decrypt.
At its current price of $0.66, per CoinGecko, NEXO is up around 2% on the week, though it has fallen by a third from its price of $1 at the start of November and has slipped over 83% from its all-time high of $4.07 recorded in May 2021.
The NEXO token gives platform users different advantages, such as better rates for lending and borrowing.
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On Tuesday, the crypto lender announced that it was suspending access to its Earn Interest Product in eight U.S. states following 18 months of dialogue with state and federal regulators.
Nexo claimed in a statement that the U.S. “refuses to provide a path for enabling blockchain businesses.”
Crypto lender Nexo today announced it will gradually phase out U.S. products and services over the coming months due to hitting a “dead end” with regulators.
The U.K. company said in a Monday announcement that it had been talking with regulators for 18 months but the U.S. “refuses to provide a path for enabling blockchain businesses.”
Nexo is a digital asset platform that loans out client funds and uses the proceeds to pay interest. (Disclosure: Nexo is one of 22 investors in Decrypt.)
“Our de...
Nexo's Earn Interest Product is now discontinued in Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington, while U.S. customers can no longer sign up for the product—although access to accounts and withdrawals remains unaffected.
Top college football prospect Matai Tagoa’i is set to join football stars like Russell Okung, Odell Beckham Jr., and Trevor Lawrence by receiving his compensation in Bitcoin.
The linebacker will be paid part of his earnings via the Strike app after signing a “name, image, and likeness” (NIL) deal with the University of Southern California (USC).
The exact details of his package are not known, but some college football players, such as Shedeur Sanders, have received estimated payouts of up to $4....
The world’s largest asset manager BlackRock just debuted a new advertisement proselytizing the virtues of Bitcoin, but rather than cheer on the Bitcoin ETF issuer for its efforts, Bitcoiners aren’t happy.
The video, which is housed on the iShares Bitcoin Trust (IBIT) ETF page on BlackRock’s website, spends three minutes walking viewers through the evolution of money and key fundamentals of Bitcoin.
One of those fundamentals is Bitcoin’s 21 million fixed token supply.
While the video explains t...
El Salvador may have reached a deal with the International Monetary Fund that will see the tiny country scale back its Bitcoin law—but it’s still going to “HODL.” And it might even step up its BTC buys.
That’s according to Stacy Herbert, the head of El Salvador’s National Bitcoin Office, who wrote on X (formerly known as Twitter) Thursday that the country may even continue buying the cryptocurrency at an “accelerated pace” going forward.
El Salvador in 2021 made Bitcoin legal tender along with...
