As the crypto market has entered “a state of fear,” and “nobody can say” whether the bottom is already behind us, major crypto lender Nexo (NEXO) is eyeing possibilities to acquire troubled companies, according to its co-founders.
Speaking in a livestreamed AMA (ask me anything) session on Tuesday, Kalin Metodiev, the co-founder and managing partner of the firm, said the market has now moved from what he described as an “an overly optimistic state” to “a state of fear.”
“We believe there is some volatility on the horizon still, and nobody can say whether this is the bottom,” Metodiev said, warning investors that they should “definitely buckle up” to be prepared for whatever comes next.
Nexo is a crypto lending and borrowing company operating with a similar business model as Celsius (CEL), the troubled major crypto lender that recently halted all customer withdrawals due to “extreme market conditions.”
Commenting on the situation surrounding Celsius and the broader industry, Metodiev...
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