Your questions show a complete bias without any facts or information. So, there’s nothing to respond to.
Like I said, learn about Nexo and then we can have an intelligent discussion about it.
P.S. Here’s Nexo’s response to my question about my funds being covered by their insurance (which, is offered for free). Perhaps, you’ll find this informative. I’ve NEVER seen anything like this from Anchor… in fact, I can’t even get anyone at Anchor to respond to my question.
"As you may be aware, in the extreme and unlikely event of a transgression, all client funds will be retrieved with our $375 000 000 insurance from BitGo in accordance with their internal operational protocols. To achieve and maintain a top level of protection we are utilizing cold storage provided by the leader in multi-signature encryption technology: BitGo. Furthermore, the custodial assets are covered for up to $100,000,000.00 by the London-based insurance company Lloyd’s with its syndicate of underwriters. And this premium service comes at no additional cost.
What is more, the insurance policy covers all clients’ assets including EUR/GBP and stablecoins. As soon as a EUR top-up is received, the funds are automatically exchanged for EURx with a guaranteed 1-to-1 conversion rate to EUR at all times. Additionally, EURx is secured by asset-backed portfolios of overcollateralized loans and the collateral of each loan is in turn covered by the $100,000,000.00 insurance policy.
With all these layers of protection, we can assure our clients that they have no reason to worry about the safety of their assets.
Further to your inquiry, being a valuable part of the global crypto finance in its capacity as a digital assets institution, operating in more than 200+ jurisdictions, Nexo has obtained numerous licenses and regulations worldwide for the purpose of provision of its services, thus being fully compliant with all applicable laws and regulations, and highest standards in the finance and crypto industry. Regarding the above, Nexo is subject to various types of audits on a regular basis (financial, legal, administrative, etc.), as well as inspections and supervision by the respective authorities. Amidst increased regulatory interest in the cryptocurrency industry, we at Nexo are setting the bar high so as to prove to our clients and investors that the assets entrusted to us are indeed in good hands, a testament to which is the independent audit by Armanino who have confirmed:
Fully-Backed: Your holdings on Nexo’s platform are backed by assets by more than 100%.
Properly Managed: Third-party assurance that your funds on the Nexo platform are properly managed and accounted for.
Always Available: 24/7 proof of Nexo’s ability to meet all liabilities owed to you at any time.
Last but not least, it shall be emphasized that Nexo is regularly expected to prove either before the relevant regulators, in the course of registration and licensing procedures or of subsequent inspections or audits, or before counterparties, that it is always compliant with the capital adequacy and liquidity requirements to ensure long-term financial stability. It has also developed and implemented anti-money laundering, privacy, security, IT, and risk procedures in full compliance with all local and global regulations and standards. The above not only protects Nexo’s clients and counterparties but also contributes to the overall financial stability in the blockchain space."