Nexo Dispatch #54: Paradigm Shifts – Snoop Dogg and Crypto Lending Audits


A good way to try to stay up-to-date in crypto is to subscribe to and read the periodic e-mails from various exchanges and platforms. One of these is the weekly Nexo Dispatch (from CEFI platform Nexo). There have been 54 issues so far and they are all available on Nexo's blog: https://nexo.io/blog/dispatch

This blog isn't solely focused on CEFI, but covers developments throughout the crypto and investing industries as well. The latest dispatch was particularly interesting, both generally and in regards to Nexo; it covered Snoop Dogg's involvement in NFT's, the chances for a crypto ETF in the US, and--most importantly for Nexo users--the recent audit of Nexo's reserves, among other things: https://nexo.io/blog/dispatch-54-paradigm-shifts-snoop-dogg-and-crypto-lending-audits

Highlights:

  • Snoop Dogg doxxed himself as NTF-investor Cozomo de' Medici
  • An NFT fantasy football game just raised $680MM and maintains a $4.3B valuation.
  • The growth of Bitcoin's lightning network's capacity
  • Nexo's Real-Time Audit by Armanino LLP
    • "Nexo's assets total in excess of 100% of $9,255,580,967 customer liabilities"

Nexo's Audit

Many "nexonians" have been waiting for a third-party audit of Nexo's reserves for a long time, and many have probably been sitting on the sidelines waiting for it. Nexo has finally delivered! (So anybody that has been waiting, now would be a great time to sign up and take advantage of the sign-up bonus! https://nexo.io/ref/buu2fi46dt?src=android-link). The audit was conducted by Armanino LLP, whose clients include Kraken, Uber, and Doordash.

What's more, it is a real-time audit, so anybody can verify Nexo's assets at any time (which should help with upcoming CEFI regulations...). The real-time audit can be viewed here: https://real-time-attest.trustexplorer.io/nexo

Currently, "Nexo's assets total in excess of 100% of $9,255,580,967 customer liabilities," implying a collateral ratio greater than 100%.

For more on the audit:

https://nexo.io/blog/nexo-passes-real-time-armanino-audit-becomes-the-first-crypto-lender-to-shed-light-on-reserves

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