Nexo Defended Itself Against Charges that Were Issued by Various State Regulators in the U.S. Yesterday

Regulators say that Nexo offered interest rates as high as 36% without informing customers of the risk. Nexo says that its promised interest rates are usually single-digit and not as high as regulators claim. It added that those rates are chosen with the "underlying sustainability of our business and security of customer assets in mind," implying that it aims to offer low-risk products. Nexo noted that it only promises as high as 36% interest for one asset—Axie Inifinity’s $AXS token. In fact, the staking reward on that asset is currently close to 60%. It insists that such a high rate is an "exception" and does not advertise that rate in marketing materials. By contrast, the company’s interest rate for Bitcoin is "nominal" and usually between 1.5% and 7%.