Nexo AG has released a Letter of Intent showing its potential interest in the possible acquisition of certain assets of crypto firm Celcius Network LLC and Celsius Lending LLC.
In the letter, Nexo, a major cryptocurrency lending platform based in Switzerland, stated that the company, its partners and affiliates are interested in acquiring "certain remaining qualifying assets, mainly collateralized loan receivables secured by corresponding collateral assets, brand assets and customer database of the business".
The proposal is a non-binding bid. The letter noted that the offer is valid until 4:30 a.m., UTC (Coordinated Universal Time) on Monday, June 20, unless accepted or rejected by the seller or withdrawn by the buyer before that time.
This comes following the crypto lending platform's Monday announcement to pause all withdrawals and transfers between accounts due to extreme market conditions.
“In service of that commitment and to adhere to our risk management framework, we have...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...