Let's dive in to this FUD of Nexo. There's this thread on Twitter which got crypto twitter talking by an acclaimed investigator with the twitter handle @otteroooo. The entire crypto market has been down for a while and these are the kind of events contributing to the downtrend. As valuable as your time is, let's examine the thread and have a fare take while responding to a contagion.
"TL'DR"
Check out what's in it for you.
We recommend following the thread on Twitter 👇
He started the thread drawing attention to his followers as quoted
NEXO FOUNDER & FAMILY SIPHONED FUNDS FROM CHARITY FOR SICK KIDS, USED DONATIONS AS PERSONAL SLUSH FUND, EVEN BUILT A PALACE FOR THEMSELVES
His FUD is interesting, he called up the founders of Nexo and their related passed businesses to showcase his findings are valid. The allegations rise are quite enough to spearhead an investor of Nexo to make investments decisions with external force. That was perfect for him.
He continued his claims siting Nexo offered an ICO while claiming Nexo is powered by one of the companies the founders of Nexo had, which was involved in fraudulent business deals.
The claims levied are tempting, and need attention. Because, they concern fraudulent activities, spending money lavishly intended for a different course.
He continued,
here's a first hand account of Bulgarians describing such companies
"knock on door" is euphemism for a beating
absolutely thuggish behavior
here's what more Bulgarians have to say about Nexo, Credissimo and HelpKarma
otter has received so many DMs like these, urging me to bring the Bulgarian Boys to justice
His findings were endless, highlighting Nexo's involvement in other crypto platforms.
Nexo raised funds from Arrington XRP Capital
Yup, the same people who have invested in, and brought us:
- Luna Terra
- Chai
- Anchor
Three companies that have caused you, me and the crypto industry so much pain
They even invested in BlockFi, lmao
Great due diligence
Believe it or not, here is the center of the claims
now that this news is out to the 9m+ views that otter has with this twitter account
even if you do not care about the missing funds for sick kids, now you have to
because other people with a stronger moral compass will pull their money out of the Bulgarian Boys'
so if you are the last to withdraw funds from Nexo, you have to trust it didn't
- get "hacked"
- siphon your funds to build palaces
- lost your funds making a wrong bet in the market
He FUDed!!!
We know the claims are heavy to be avoided, hence he goes a long way to remind the FUDing threat.
the taller the claim, the less likely for it to be true
The whole claims are meant to indicate insolvency of Nexo, which should end up triggering massive withdrawals from Nexo.
In this case, experienced traders will sell off their holdings in bitcoin or any crypto asset for Stablecoins rendering degital asset worthless in terms of the US dollars. Then the perpetrator executes his plans.
Notwithstanding, he continued, siting to his followers
... ON-CHAIN EVIDENCE ON HOW NEXO HAS BEEN LOSING TONS OF DEPOSITORS' MONEY, ESPECIALLY AFTER CELSIUS COLLAPSED!!
Congratulations 🎊, you made it, and it is valued that you value this content as well as the magic pen.
👏 👏👏
What is in this for you as an investors?
Taking your time reading this Nexo FUD means you value your investment in the company and we value that you value your investment.
FUDing is one best way to manipulate the market and investors should understand its a key point when investing.
We recommend verifying information about your company time on time when manipulations like this are aired. Because it's pertinent to know where your investment are heading, while verifying the fundamentals when you invested in the company.
There's no doubt, a reasonable amount of FUD is trading the market since bitcoin has been trading twice down it previous price.
This is a key take away, because, most CeFi platforms got into the market within these trading price ranges from these bearish months.
Hence, we have noted a downside in the lending and borrowing platforms, and how they manage their funds has caused for FUD in the market. For example, crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million to Voyager Degital, read full post three-arrows-capital-crypto-hedge-fund-defaults-on-voyager-loan. Imagine what a community translation should impact the market. This is a scenario on otteroo calling his followers to withdraw from Nexo on his FUDing thread.
Consider reading again from his own words.
now that this news is out to the 9m+ views that otter has with this twitter account
even if you do not care about the missing funds for sick kids, now you have to
because other people with a stronger moral compass will pull their money out of the Bulgarian Boys' Nexo
so if you are the last to withdraw funds from Nexo, you have to trust it didn't
- get "hacked"
- siphon your funds to build palaces
- lost your funds making a wrong bet in the marketTHANK THE LORD that according to Nexo, "it has never lost a dollar"!
Definitely, most investors are matured.
Unfortunately for Otteroo, he has been nail down with some replies debunking his claims. To achieve his mission, he hides the replies. Here is a couple of as can been seen on the image below
Relative to Nexo, there is no perfect platform out there, they're all thriving to make business which come with downsides, jugde them in reference to your limited investment, and make right decisions, the market is tough. We all trading to bank in a buck.
Conclusively: Nexo is one of the companies who got into CeFi early, we strongly believe Nexo can continue leading the sector, given if they had mean real business with their investors. While not getting to much exposure to crypto hedge funds.
Disclaimer: Not related or affiliated to Nexo and or have invested in their products.
Affiliate Disclosure: Clicking on affiliate links on this post and performing a task, I will get a kickback, you're indirectly supporting me and it doesn't affect your performance on the site.
Your feedback is very much appreciated and while treating this post as information and not an endorsement for investment decisions.
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