Nexo
If you want a breath of fresh air and hope that there is one crypto in the DeFi space doing things right – or at least not anything stupid (that we know of) – then Nexo ($NEXO.X) could be the winner in this current kerfuffle. While a part of the DeFi space, Nexo is really more of a centralized TradFi (traditional finance) than DeFi. Nexo is another of the myriad of services that allows you to borrow and stake/lend for a return with various cryptocurrencies and stablecoins.
Nexo is doing so well that they previously offered to buy Celsius – but that was rejected. However, they did secure a 60-day exclusive to negotiate a buy out of Vauld. Nexo’s CEO, Antoni Trenchev’s recent talks with CNBC gave me some good vibes.
When asked how much Nexo would pay, Trenchev said they are starting their due diligence. A notable quote those in the DeFi space should take note of: “…60-day window of exclusivity where they will open up the books. You will see everything. Is there a hole? How big is the hole? Where are the assets? Who are the counterparties?”
Those questions are, I don’t know, questions that some other entities probably should have been asking. We’ll dive into this more as it develops. 💸