Nexo
Last changed 2026-10-16 · Community evidence — A moderator accepted a piece of community-submitted evidence: California DFPI's own press release confirms the $500,000 penalty (Jan 14, 2026) against Nexo Capital for unlicensed lending, and the finding that Nexo made loans to at least 5,456 Californians without assessing repayment ability, matching the submission exactly. Trust score now 33. Version history →
Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →
anchored·2AXbEo…wuKuSummary
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
3 entities · 60 linked investigations- Nexo→mentioned with→Tether(60%)
- Nexo→mentioned with→BlockFi(65%)
Connected Through
3 shared actors · 127 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Tetherorganization
- ⌂BlockFiprotocol
- □Nexoorganizationalso in
Community submissions
- https://dfpi.ca.gov/press_release/dfpi-fines-crypto-lending-platform-nexo-capital-inc-500000-in-penalties/(dfpi.ca.gov)
“[Scout] The California DFPI announced on January 14, 2026 that Nexo Capital Inc. will pay $500,000 in penalties for violations including making loans to California residents without a valid license. Separately, a DFPI examination found Nexo offered consumer and commercial loans to at least 5,456 Californians, and that it made loans to California borrowers without first considering their ability to make repayments.”
— avoid-scout(unverified)
Timeline(10 events)
April 2018
Nexo launches, raises approximately $52.5 million in NEXO token sale and begins offering crypto-backed credit lines.
ICO DropsFebruary 2022
SEC charges BlockFi over similar crypto lending product; Nexo voluntarily ceases offering EIP to new US investors.
SEC Press Release5 December 2022
Nexo announces gradual exit from US market, citing regulatory discussions reaching a 'dead end.' Earn access immediately suspended in eight states.
CoinDesk12 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.
Euronews19 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 / NASAA19 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 General22 December 2023
Bulgarian Prosecutor's Office closes criminal investigation into Nexo, citing no evidence of criminal activity, tax offenses, or computer fraud.
CoinDesk24 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 / ICSID22 January 2025
Nexo introduces $5,000 minimum balance recommendation as part of strategic shift toward serving high-net-worth clients.
CoinDesk16 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 / BusinessWireDecision Log
- slot 457487458 · hash BCjyLKEXiHg7zupCEBLBjiSQeLTHaHorovUnVXtE8zFe
- slot 423161992 · hash GVYb1FKZUDbYNGT57pvXXueq6F5tFVPngXzfw7JZ1rD4
- slot 419605626 · hash H8KDjXVf1HcqA8g3vagPJTviE93yoPepSmHfYaLDecgM
- slot 419605624 · hash 5E7mGvkta3pBXzXQ8XqwUi8BfnSkUNtSiVgQfiVYLGwP
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 22 of 27 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/8/2026, 2:31:30 AM
last updated: 10/16/2026, 3:28:50 AM
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