Nexo Reports Zero Exposure To Genesis

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Antoni Trenchev; Photo Source: Coingape

Nexo’s latest tweets revealed that the platform does not have any exposure to Genesis after the latter suspended its loan services.

The crypto firm noted that its “strict risk management” has allowed it to remain exposure-free to the majority of collapses in the crypto industry. These include TerraUSD’s collapse in Q2 2022 and recent events such as Celsius and FTX filing for Chapter 11 bankruptcy. Nexo previously noted,

“Nexo is the only lender that never restricted withdrawals.” 



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Earlier today, Nexo’s real-time audits conducted by Armanino LLP were missing from its website. This led to the community speculating that Nexo is under threat of insolvency.

However, Nexo soon dispelled these rumors. It claimed that the audits were not visible due to technical difficulties and notified Armanino about the error.

The webpage displaying the real-time audits is now online, with a spokesperson for Nexo adding,

“With previous such downtimes of the Armanino real-time attestation, the problem was resolved promptly within a day.”

Written by
Ayush Pande

Nexo’s latest tweets revealed that the platform does not have any exposure to Genesis after the latter suspended its loan services.

The crypto firm noted that its “strict risk management” has allowed it to remain exposure-free to the majority of collapses in the crypto industry. These include TerraUSD’s collapse in Q2 2022 and recent events such as Celsius and FTX filing for Chapter 11 bankruptcy. Nexo previously noted,

“Nexo is the only lender that never restricted withdrawals.” 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Earlier today, Nexo’s real-time audits conducted by Armanino LLP were missing from its website. This led to the community speculating that Nexo is under threat of insolvency.

However, Nexo soon dispelled these rumors. It claimed that the audits were not visible due to technical difficulties and notified Armanino about the error.

The webpage displaying the real-time audits is now online, with a spokesperson for Nexo adding,

“With previous such downtimes of the Armanino real-time attestation, the problem was resolved promptly within a day.”

Written by
Ayush Pande