Crypto Lender Nexo said it has re-entered the US, marking a comeback two years after regulatory friction forced its exit.
“As America is back, Nexo is back too,” co-founder Antoni Trenchev spoke with Donald Trump Jr. at a press conference in Bulgaria on Sunday, praised what he described as a more favorable environment for innovation under President Trump.
“Thanks to President Donald J. Trump, his administration, and his family’s vision and leadership, the United States has once again become a place where innovation is unchecked, a place where pioneers are celebrated,” Trenchev said in a press release.
Nexo, which currently manages $11 billion in assets, said it will fully serve U.S. retail and institutional clients, including high-yield savings products, asset aid credit lines and advanced trading solutions.
Nexo withdraws from the US in late 2022 and earns what was called a “dead end” in negotiations with state and federal regulators, and the market turmoil has been reported at the time following the collapse of crypto exchange FTX and wider crackdowns on crypto lenders.
The company said in 2022 it would be unable to operate in “impossible environments” following multiple enforcement actions, including California and New York.