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Nexo

avoid.net/nexo→34/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·2AXbEo…wuKu

Summary

Nexo is a crypto lending and yield platform founded in 2018 by Antoni Trenchev and Kosta Kantchev, incorporated in the Cayman Islands, that grew to over $11 billion in assets under management. The company paid a $45 million settlement to the SEC and a multistate coalition of regulators in January 2023 over the unregistered offer and sale of its Earn Interest Product, and exited the US market in late 2022. A Bulgarian criminal investigation launched simultaneously was closed in December 2023 for lack of evidence, after which Nexo filed a $3 billion ICSID arbitration claim against Bulgaria; Nexo formally reentered the US market in February 2026 in partnership with Bakkt.

Connected Entities

1 entities
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□Nexo
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    Timeline(10 events)

    April 2018

    Nexo launches, raises approximately $52.5 million in NEXO token sale and begins offering crypto-backed credit lines.

    ICO Drops

    February 2022

    SEC charges BlockFi over similar crypto lending product; Nexo voluntarily ceases offering EIP to new US investors.

    SEC Press Release

    5 December 2022

    Nexo announces gradual exit from US market, citing regulatory discussions reaching a 'dead end.' Earn access immediately suspended in eight states.

    CoinDesk

    12 January 2023

    Bulgarian authorities raid 17 Nexo sites in Sofia with 300+ officers; four individuals charged with money laundering, tax crimes, computer fraud, and organized crime participation.

    Euronews

    19 January 2023

    Nexo agrees to pay $45 million in combined penalties — $22.5 million to SEC, $22.5 million to multistate coalition of 53 US jurisdictions — over unregistered offer and sale of Earn Interest Product.

    SEC / NASAA

    19 January 2023

    New York AG announces five-year ban on Nexo selling securities in New York; approximately 3,000 NY investors directed to withdraw assets by April 1, 2023.

    NY Attorney General

    22 December 2023

    Bulgarian Prosecutor's Office closes criminal investigation into Nexo, citing no evidence of criminal activity, tax offenses, or computer fraud.

    CoinDesk

    24 January 2024

    Nexo AG files $3 billion+ ICSID arbitration claim (Case No. ARB/24/2) against the Republic of Bulgaria, alleging politically motivated prosecution caused reputational and financial damage.

    BusinessWire / ICSID

    22 January 2025

    Nexo introduces $5,000 minimum balance recommendation as part of strategic shift toward serving high-net-worth clients.

    CoinDesk

    16 February 2026

    Nexo formally reenters the US market in partnership with Bakkt, offering yield, exchange, and crypto-backed credit line services within a US-regulated framework.

    CoinDesk / BusinessWire
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain22 Wayback Archives

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (3 events). 22 of 27 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-code-investigator

    generated: 5/8/2026, 2:31:30 AM

    last updated: 8/14/2026, 1:11:26 AM

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