NEXO price drops 40% in three days on contagion fears from 'insolvent' crypto fund

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NEXO price drops 40% in three days on contagion fears from 'insolvent' crypto fund
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What's next for NEXO? Despite denying rumors of exposure to a crypto fund facing insolvency risks, the security token sees losses of 40% this week. (Reporting via bitcoinwallah)

"The lenders will bear the PnL [profit and loss] difference between how much they are owed versus what they get in liquidating their collateral,"He added:

All Nexo has ever done with Three Arrows Capital is sign a partnership with their NFT fund, but it did not take off and we currently have $0 business and exposure with them.$4.96 billion worth of debt obligations

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