U.S. Market Re-Entry by Cryptocurrency Lending Service, Nexo, Fuelled by "Reinvigorated Hopefulness and Business Dynamism"
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The Daily Hodl - April 29, 2025
Nexo Returns to the US Market: Embracing a Friendlier Crypto Landscape
After pulling out of the U.S. market roughly two years ago following a run-in with American regulators, crypto lending platform Nexo announces its plans to resume operations within the United States. This decision comes against the backdrop of a shift in the regulatory environment towards digital assets, which the company attributes to a more crypto-friendly environment under the Trump administration.
In a recent thread on social media platform X, Nexo shares its intentions to reopen services to American customers and deliver its complete product offerings within the supportive U.S. market. Although no specific date has been provided, the announcement suggests that a return is on the horizon.
The announcement comes shortly after Nexo paid a $45 million fine in 2023 to the U.S. Securities and Exchange Commission (SEC) for running an unregistered crypto asset lending product, the Earn Interest Product (EIP)[1]. During a crypto conference in Bulgaria, Nexo's eldest son of the U.S. President, Donald Trump, was present while the company announced its plans for a comeback[2]. This is not a direct endorsement of the company but more of a message spelling out the importance of crypto in the United States[2].
According to Nexo co-founder, Antoni Trenchev, the company is having constructive conversations with U.S. regulators and plans to resume operations in the U.S. "in the coming months." Notably, Trenchev emphasizes that the company's resurgence is not solely owing to Trump Jr.'s presence at the conference but rather due to an overall positive and entrepreneurial momentum in the U.S. crypto market[2].
The Trump administration has taken several significant steps to embrace digital assets, such as signing an executive order to create a strategic Bitcoin (BTC) and crypto reserve[3]. The possibility of increased acceptance and regulation on crypto-related activities could potentially pave the way for more companies like Nexo to re-enter the US market.
Stay tuned for more updates on this developing story!
Disclaimer:
Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl will not be held responsible for any losses incurred from investments.
Sources:
- Nexo to pay $45 million settlement over unregistered securities
- Nexo Plans U.S. Market Return with ‘Renewed Optimism’ as Trump Jr. Attends Crypto Conference
- Trump orders executive order to create strategic BTC and crypto reserve
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- After a two-year absence, cryptocurrency lending platform Nexo has announced plans to resume operations in the United States due to a favorable regulatory environment under the Trump administration.
- In a social media post, Nexo revealed their intention to deliver their full product offerings to American customers, with potential operations beginning in the coming months.
- The announcement comes shortly after Nexo paid a $45 million fine to the U.S. Securities and Exchange Commission (SEC) in 2023 for an unregistered crypto asset lending product.
- At a crypto conference in Bulgaria, Nexo's eldest son of the U.S. President, Donald Trump, was present during the announcement, but this does not directly endorse the company.
- The Trump administration's positive approach towards digital assets, such as creating a strategic Bitcoin reserve, has contributed to the renewed optimism for crypto companies like Nexo to re-enter the US market.
- With increasing acceptance and regulation of crypto-related activities, altcoins such as Ethereum, along with other finance, business, and technology firms, may also consider expanding their operations in the U.S. market.
