In the Media: September 10, 2021

Regardless of whether you’ve been keeping up with events or you’re looking to catch up on the latest in blockchain finance, Nexo’s media recap is hot off the press for you to read.

In this edition, you’ll find our Co-founder and Managing Partner Antoni Trenchev’s interview with Bloomberg where he discusses the SEC and how it might affect crypto lending, а summary of Antoni’s talk at the Benzinga Crypto Festival, and commentary from Nexo on news about Solana, El Salvador, and even the US Infrastructure Bill.

Antoni on Bloomberg

For all those interested in Nexo’s position regarding the SEC’s actions against Coinbase, we urge you to listen to Antoni’s stance on the topic, plus a quick discussion of crypto’s resilience to regulatory scares with Bloomberg hosts Matt Miller, Francine Laqua and Kailey Leinz.

Watch the full interview from yesterday or read the summary below:

• The SEC is out of its slumber and giving us regulatory guidance albeit in a pretty aggressive way. Regardless, at Nexo, we always welcome regulation.
• Regulators are concerned with two aspects of consumer protection – first, whether crypto companies’ products are securities, and second, whether their business models are sound.
• Unlike competitors, a significantly smaller part of Nexo’s business comes from the United States, making the company much more resilient in the current environment.
• After China’s mid-April crackdown on crypto, the network’s hash power went down. It has since recovered with mining relocating from China to other locations namely the US.
• The glitches with El Salvador’s systems following their acceptance of BTC as legal tender were to be expected, considering that blockchain is still a new technology.

Antoni аt Benzinga

Last week Antoni took part in the virtual Benzinga Crypto Festival to discuss the future of global currency, sustainability, and how investors both big and small can go about business in this financial environment.

If you missed Antoni’s talk you can watch it below or read the highlights further down in the blog post.

• Four years ago, hiring in the crypto field was difficult. Today, the influx of candidates is remarkable with people – even high-level executives – from the banking sector switching to careers in crypto.
• NFTs are an asset class to follow closely, especially since virtual realities are being built where such tokens open doors to whole new worlds.
• Tokenization of various real-world assets is a fountain of possibilities with the potential to bring about a redistribution of wealth, and improved inclusivity in the investment world.
• While Bitcoin has already established itself as the new gold and is set to reach $100K within 12-18 months, less than 30% of other cryptocurrencies will survive long-term.
• The darkest possible regulatory scenario will be an outright ban of ownership of crypto,
• In contrast, the best-case scenario for crypto is clarity, namely, for entities like the SEC to take these assets seriously and create official regulations for them.
• If we want to have large institutional adoption of crypto, we must wake up to the reality that large funds that bring in significant sums, the latest technology, and big clients, have a huge focus on ESG and economically sound businesses.
• Solutions for crypto’s high energy consumption are on the horizon with Ethereum already on its way to a proof of stake model.

In the News

The crypto summer took many interesting and newsworthy turns in the last four weeks, and naturally, Antoni and the Nexo team spoke to journalists on various topics. Check out what they had to say here:

• El Salvador & BTC as Legal Tender – Our take on El Salvador’s bold move featured on the pages of the Financial Times, the Independent, and CryptoNews.
• Solana’s Soars Among the Top 10 Coins – Antoni’s thoughts on Solana’s rapid rise over the last couple of weeks on CNBC and Bloomberg.
• BeInCrypto: On the US Infrastructure Bill – How legislation the United States will affect crypto and businesses like Nexo.
• Cointelegraph: VC Investments in Crypto! – Last month the market wasn’t booming quite as much as usual, regardless VC funds were investing in the space.

We hope you enjoy all the stories from the last few weeks. With so much going on in the crypto world, we expect to back soon with even more Nexo news for you.