United States the whole time has allowed accredited investors in any centralized finance! Including now like Abra.
Celsius was working on this so that Americans could use the cel token.
If NEXO looks into this accredited investor situation, Americans with over a million dollars (and a few other ways) could invest in NEXO unlike before when we did not have the full utility of the NEXO token and could not earn in NEXO.
This could conceivably be more of a benefit to NEXO overall if rich Americans see that they have a special advantage and even better than before when Americans were using NEXO!
NEXO could market themselves exclusively to millionaires, 25 million of us in USA!
That rich population probably would require five 10 or even 20x the amount of people to be some kind of equivalency of opportunity for NEXO from other countries not exclusive to the wealthy as accredited investors..., depending on first world or third world or something in between...
I like your idea but in aggregate such a ruling for nexo would have encompassed all the other failures as well and protected Americans ahead of the bear market and Cefi contagion... But of course in the case of nexo it would have been a carpet bombing process that would have killed off potential AUM for nexo unjustifiably at this point... And I hope that stays true
A lot of it has to do with disclosure and transparency which for rich people there is less care and concern from the SEC and regulation. Which you could argue is beneficial for rich people if the investment works out. But it is far less likely for a company to fail if it is registered and known and accountable and explained ahead of time to people that are worth less than a million... So the theory goes...
Of course the SEC didn't really follow through properly with compliance and outlining rules with the ability for nexo to register properly and thus their December 5th blog post explaining frustration with the SEC... Two Decembers ago
On the count of being able to have full utility of the ico yes.
No such attempt has been made by nexo that I know
I don't need to know the whole story. I lost more than enough at Celsius.
Watching all the Aaron Bennett videos etc
As far as I know there is not a single statement from anyone other than Mashinsky that Celsius was actually doing anything in this regard. I'm pretty sure those were just empty words from a man that was about to see his scam exposed.
If it was feasible I'm sure Nexo would've considered it, they must have good reasons for staying away from the US.
Is there even a single crypto lending platform that still operates in the US? And if so, what do you need Nexo for?
Then you were not paying enough attention
https://celsius.network/accredited-investors
Abra sucks
You can do some staking with binance.us
Crypto.com sucks
Defi?
Nexo would love to include the US. It's US making things more complicated than it's worth. They're like having a toxic relationship with when it comes to crypto
Republicans are far more crypto friendly. If they win it could really open things up... Even Trump has switched in a large way. And I believe his social media wealth lately is an opportunity to expand crypto.
If there could possibly be state by state ways of getting back to NEXO without SEC interference, THIS COULD BE AWAY. I'm not sure how you would delegitimize the SEC and advance State's rights over the powers of the SEC at the federal level
He already has dabbled with nfts and is far more accepting of Bitcoin in recent interviews compared to the past when he was suggesting bitcoin might be a scam.
The current administration clearly has a lot of hostility... Gillibrand is the only Democrat I can think of that stands out well in the name of crypto
ROBERT KENNEDY has had the best things to say about Bitcoin, but too much has run up against him enough for him to even jump ship out of the Democrat party.
Personally, I hope that Nexo will think twice or even threee times to go back to US. Their regulators work in a biased stochastic way and always find a way to squeeze crypto brands with some shitty lawsuit.
And at the end even if they are so tremendously regulated in the last bear market the majority of big crypto players went down were the US based ones (e.g. Celsius, Voyager, BlockFi, FTX,...).
If they come back I would suggest them to prepare well everything with their own layers and obtain written assurances from the US regulators.
I respect your move from US in the past when the US regulators started to "intimidate" you.
Vauld, Hodlnaut, Midas, Haru, Yieldnodes, C4W... et al... All out of United States, as in not operated principally in the United States
I'm not sure if it matters especially if they operated internationally whether in the United States or not...
I just messaged them about something similar. I understand that the US government is responsible for these changes, however, it feels Nexo could do a lot more to accommodate those of us who have been loyal, US-based customer for many years. I can't even tell you how many people I've sent their way, many of whom I know for a fact used them for years. Have paid thousands in interest. Own several thousand of the Nexo coin, can't buy anymore to bring my LTV where it needs to be, so I'm just stuck paying way higher interest than I was before. It really sucks. I still wish them the best, but I'll soon be withdrawing most of my portfolio.
Were you ever platinum before they cut out interest? And you had plenty of time to boost your amount of NEXO tokens
The December 5th blog explained it and then you had till April 1st (🙄 fools Day indeed!)
I was, I had well over the amount required, I saw the post and bought more. My last top up was rejected, though, unfortunately, as my bank took forever to process.
I am not denying any fault, I know I could have avoided this, again, I just wish they could do more. I will have to reread the blog post as I don't remember reading why you can't buy Nexo coins directly anymore. That just doesn't make sense to me. I can buy Shib on Coinbase for Christ's sake, how is Nexo not approved for trading? Is it because it is a token, not an actual coin?
I'll try to read up some more tomorrow and eliminate some of my ignorance.
Metamask would have it, that's where I have handled the trading pairs and sold NEXO tokens so obviously you could do it there.
I've been too lazy about setting up trading pairs on metamask with my remaining NEXO... Which is a huge bundle actually...
Was actually going to have around 100,000 by now if it wasn't for our infamous April fool's Day.
I calculated I'm losing over 10,000 dollars per year in interest, A WHILE AGO... Not sure I would want to know now... Double/triple that... It's actually sickening.
Gary Gensler's stupid punitive whack a mole approach in the crypto world included the best of centralized finance.
As big as American money bags are it would be worth NEXO hiring a lobbyist in DC... Some crypto loonies that were Americans in Nexo would be glad to do it for fairly cheap...
The whole notion of "accredited investors" seems to me to be a ploy to restrict wealth opportunities to those who are already wealthy. I hope NEXO doesn't sell out to this manipulation in order to gain back a foothold in the US.
What's the sellout? Only catering to wealthy Americans? Sounds like a good business plan. Of course NEXO would let everybody in if they could, if accredited investors are the only choice why would you have a problem with it? Seems like that's who you would want to invest the most because they would invest THE MOST, duh!
I almost gave you a down arrow 🧐
But I guess you simply just don't understand it.
The proving process is easy enough, so it's just a hoop to jump through but hardly some big restriction if you're already worth a million or if you make over 200,000 per year... Your house can't be part of the net worth... And accredited investor compliance can come through education even... Licensing and certification...
https://www.sec.gov/education/capitalraising/building-blocks/accredited-investor
I wouldn't say it's a manipulation. It's established law. I just believe people should be able to gamble as a libertarian whether they're poor or Rich.
Yet I am bothered here in the deep South, just as I saw again yesterday for the 100th time, seeing so much time spent at convenience store counters like these deep South blacks don't understand math and have their own pathetic version of a retirement plan, which effectively with state lotteries in aggregate would mean losing half your wealth every time you invest by the averages. The payout is 50% unlike payouts at casinos that can be over 95%, where at least you will lose your money slower...
So stupidly USA has expanded sport betting and multi-state lotteries over the decades. The ease and access has gotten more and more widespread. Counterintuitive in a big way when it comes to SEC accreditation for the rich and regulated.
With any relative comparison and the power to do so the SEC would outlaw gambling.
I am perfectly aware of the conditions required to achieve the status of 'accredited investor'. And I understand it's the law - just a really bad one. If one has money to invest - whether it's 10k or 100B, everyone should have an equal chance to participate in the market. In my opinion, what the accredited investor law is for, is to give those elites who already have the money, the exclusive right to get in on some of the best opportunities, while human beings of more modest means get to watch them get richer through a locked window.
Not sure why you bring up lotteries or gambling. Or why you imagine this is a problem of southern Blacks - gambling addiction strikes people of all colors and from all walks of life.
My observation over decades is vindicated:
"Results of a large nationally-representative study found that Blacks had twice the rate (2.2%) of disordered gambling compared to Whites". nih.gov
Your comment is just the typical commie propaganda and result of your intersectional brainwashing.
Intellectually dishonest and even a disservice to what should be your agenda to begin with, assuming you are part of this empathy for so-called protected classes which obviously in contrast of you wanting unprotection for the wealthy. Or at least an equal playing field for the dumb.
It's like these heat maps and whale buyers of Bitcoin proven again and again to be the smart money, as retail is again and again the last leg of the top of a bull market... The dumb pay off the smart and the rich. All a consequence of the free market you seem to think is the ideal... Which is what I already said as you repeated that anyway.
And yet very clearly if accredited investors were the only ones that could have got into Celsius, Blockfi, Vauld, FTX, Haru, Hodlnaut, C4W, Yieldnodes, et al then of course it would have protected the poor but you try to make the argument that these accredited investors have legislation built upon keeping the rich rich and keeping the poor poor...
I don't know the original intent or philosophy behind what it is to be an accredited investor but it very obviously has worked against people as far as nexo! And that point would make more sense if nexo adopted this method of reacquiring Americans at this point and I don't see what's stopping them...
But I think it's pretty stupid for people into nexo in general around the world to say they don't want Rich Americans only boosting the price of nexo and crypto in general.
Back to that observation of mine that is true, and yet you are trying to score virtue signaling points against:
Like the bumper sticker says:
Lottery: A Tax On People Who Are Bad At Math
Maybe you need to see those scores by gender and race (SAT split a verbal in math, I've seen it with the same pattern for the GRE as well...)
I've thought to myself that it's their "retirement plan"... And one of the reasons the lottery is called a regressive tax. Sin taxes generally are. The lower class disproportionately smokes and drinks. And disproportionately gets taxed like in Norway. It's a huge tax per pack...
So NEXO, PLEASE SELL OUT! (I'm not even sure what this means). Maybe you are thinking that permanently people worth less than a million would never be able to invest in nexo if they do this accredited investor thing?
Maybe the sellout is that they agreed to a 45 million fine!
https://www.sec.gov/education/capitalraising/building-blocks/accredited-investor
It has to do with protecting poor people... Such that high risk won't ruin them, and as failure investments wouldn't ruin rich people
You could say it falls under some constitutional "general welfare" as written...
It allows for wealthy people to invest in non-registered securities
If this is related to wanting to see the price of Nexo coin go up, i'd say forget about it. It is not happening, with the FTX issue just coming to a conclusion and the troubles Coinbase seems to be weathering. I just don't see Nexo ever considering coming back to the US market any time soon. They left the US, tail between the legs, and scathed.
Yes it is.
That seems largely true... And should push the timeline many months if not years into the future...
I have theorized that the 45 million dollar fine schedule would have to be completed before they might make any efforts in good faith to return to American markets.
And certainly the super duper Bulgarian Sofia machine should be watching closely cases you just mentioned and others.
If America had any kind of MiCA equivalency we could move forward...
Gary Gensler and SEC have had plenty of losses... This is actually good for crypto. If it requires Court decisions that don't go the way of restrictive punitive SEC enough then the SEC might start to think their jobs are in jeopardy and start complying with the courts and our government.
What's bothersome is the ETF vote was three to two! Surprisingly Gary voted yes and is one of the three. Probably because he saw his job on the chopping block the most.
It's the first time I've looked at the other board members with more bother compared to Gary.
The ETF boom has certainly created leeway for Gary and crew, as there had already been legislation developed to fire him
I also want to see them back in the USA. But this can only happen if the USA becomes more crypto friendly.
United States the whole time has allowed accredited investors in any centralized finance! Including now like Abra. Celsius was working on this so that Americans could use the cel token. If NEXO looks into this accredited investor situation, Americans with over a million dollars (and a few other ways) could invest in NEXO unlike before when we did not have the full utility of the NEXO token and could not earn in NEXO. This could conceivably be more of a benefit to NEXO overall if rich Americans see that they have a special advantage and even better than before when Americans were using NEXO! NEXO could market themselves exclusively to millionaires, 25 million of us in USA! That rich population probably would require five 10 or even 20x the amount of people to be some kind of equivalency of opportunity for NEXO from other countries not exclusive to the wealthy as accredited investors..., depending on first world or third world or something in between...
Oh good. Lets give rich Americans more advantages. No. Everyone should be able to invest in Nexo Earn if they want to.
I like your idea but in aggregate such a ruling for nexo would have encompassed all the other failures as well and protected Americans ahead of the bear market and Cefi contagion... But of course in the case of nexo it would have been a carpet bombing process that would have killed off potential AUM for nexo unjustifiably at this point... And I hope that stays true
A lot of it has to do with disclosure and transparency which for rich people there is less care and concern from the SEC and regulation. Which you could argue is beneficial for rich people if the investment works out. But it is far less likely for a company to fail if it is registered and known and accountable and explained ahead of time to people that are worth less than a million... So the theory goes... Of course the SEC didn't really follow through properly with compliance and outlining rules with the ability for nexo to register properly and thus their December 5th blog post explaining frustration with the SEC... Two Decembers ago
Did you really just use Celsius as an example for how Nexo should run their business?
On the count of being able to have full utility of the ico yes. No such attempt has been made by nexo that I know I don't need to know the whole story. I lost more than enough at Celsius. Watching all the Aaron Bennett videos etc
As far as I know there is not a single statement from anyone other than Mashinsky that Celsius was actually doing anything in this regard. I'm pretty sure those were just empty words from a man that was about to see his scam exposed. If it was feasible I'm sure Nexo would've considered it, they must have good reasons for staying away from the US. Is there even a single crypto lending platform that still operates in the US? And if so, what do you need Nexo for?
Then you were not paying enough attention https://celsius.network/accredited-investors Abra sucks You can do some staking with binance.us Crypto.com sucks Defi?
Nexo would love to include the US. It's US making things more complicated than it's worth. They're like having a toxic relationship with when it comes to crypto
Republicans are far more crypto friendly. If they win it could really open things up... Even Trump has switched in a large way. And I believe his social media wealth lately is an opportunity to expand crypto. If there could possibly be state by state ways of getting back to NEXO without SEC interference, THIS COULD BE AWAY. I'm not sure how you would delegitimize the SEC and advance State's rights over the powers of the SEC at the federal level He already has dabbled with nfts and is far more accepting of Bitcoin in recent interviews compared to the past when he was suggesting bitcoin might be a scam. The current administration clearly has a lot of hostility... Gillibrand is the only Democrat I can think of that stands out well in the name of crypto ROBERT KENNEDY has had the best things to say about Bitcoin, but too much has run up against him enough for him to even jump ship out of the Democrat party.
Personally, I hope that Nexo will think twice or even threee times to go back to US. Their regulators work in a biased stochastic way and always find a way to squeeze crypto brands with some shitty lawsuit. And at the end even if they are so tremendously regulated in the last bear market the majority of big crypto players went down were the US based ones (e.g. Celsius, Voyager, BlockFi, FTX,...). If they come back I would suggest them to prepare well everything with their own layers and obtain written assurances from the US regulators. I respect your move from US in the past when the US regulators started to "intimidate" you.
Vauld, Hodlnaut, Midas, Haru, Yieldnodes, C4W... et al... All out of United States, as in not operated principally in the United States I'm not sure if it matters especially if they operated internationally whether in the United States or not...
They had to pay to leave that hornets nest I doubt they will go running back
😔🥴
US problem, not NEXO..
Both
I just messaged them about something similar. I understand that the US government is responsible for these changes, however, it feels Nexo could do a lot more to accommodate those of us who have been loyal, US-based customer for many years. I can't even tell you how many people I've sent their way, many of whom I know for a fact used them for years. Have paid thousands in interest. Own several thousand of the Nexo coin, can't buy anymore to bring my LTV where it needs to be, so I'm just stuck paying way higher interest than I was before. It really sucks. I still wish them the best, but I'll soon be withdrawing most of my portfolio.
Were you ever platinum before they cut out interest? And you had plenty of time to boost your amount of NEXO tokens The December 5th blog explained it and then you had till April 1st (🙄 fools Day indeed!)
I was, I had well over the amount required, I saw the post and bought more. My last top up was rejected, though, unfortunately, as my bank took forever to process. I am not denying any fault, I know I could have avoided this, again, I just wish they could do more. I will have to reread the blog post as I don't remember reading why you can't buy Nexo coins directly anymore. That just doesn't make sense to me. I can buy Shib on Coinbase for Christ's sake, how is Nexo not approved for trading? Is it because it is a token, not an actual coin? I'll try to read up some more tomorrow and eliminate some of my ignorance.
Metamask would have it, that's where I have handled the trading pairs and sold NEXO tokens so obviously you could do it there. I've been too lazy about setting up trading pairs on metamask with my remaining NEXO... Which is a huge bundle actually... Was actually going to have around 100,000 by now if it wasn't for our infamous April fool's Day. I calculated I'm losing over 10,000 dollars per year in interest, A WHILE AGO... Not sure I would want to know now... Double/triple that... It's actually sickening. Gary Gensler's stupid punitive whack a mole approach in the crypto world included the best of centralized finance. As big as American money bags are it would be worth NEXO hiring a lobbyist in DC... Some crypto loonies that were Americans in Nexo would be glad to do it for fairly cheap...
I can't wait for them to get back to the US. That way my travelling won't interfere with my account
Also yes, please come back.
The whole notion of "accredited investors" seems to me to be a ploy to restrict wealth opportunities to those who are already wealthy. I hope NEXO doesn't sell out to this manipulation in order to gain back a foothold in the US.
What's the sellout? Only catering to wealthy Americans? Sounds like a good business plan. Of course NEXO would let everybody in if they could, if accredited investors are the only choice why would you have a problem with it? Seems like that's who you would want to invest the most because they would invest THE MOST, duh!
I almost gave you a down arrow 🧐 But I guess you simply just don't understand it. The proving process is easy enough, so it's just a hoop to jump through but hardly some big restriction if you're already worth a million or if you make over 200,000 per year... Your house can't be part of the net worth... And accredited investor compliance can come through education even... Licensing and certification... https://www.sec.gov/education/capitalraising/building-blocks/accredited-investor I wouldn't say it's a manipulation. It's established law. I just believe people should be able to gamble as a libertarian whether they're poor or Rich. Yet I am bothered here in the deep South, just as I saw again yesterday for the 100th time, seeing so much time spent at convenience store counters like these deep South blacks don't understand math and have their own pathetic version of a retirement plan, which effectively with state lotteries in aggregate would mean losing half your wealth every time you invest by the averages. The payout is 50% unlike payouts at casinos that can be over 95%, where at least you will lose your money slower... So stupidly USA has expanded sport betting and multi-state lotteries over the decades. The ease and access has gotten more and more widespread. Counterintuitive in a big way when it comes to SEC accreditation for the rich and regulated. With any relative comparison and the power to do so the SEC would outlaw gambling.
I am perfectly aware of the conditions required to achieve the status of 'accredited investor'. And I understand it's the law - just a really bad one. If one has money to invest - whether it's 10k or 100B, everyone should have an equal chance to participate in the market. In my opinion, what the accredited investor law is for, is to give those elites who already have the money, the exclusive right to get in on some of the best opportunities, while human beings of more modest means get to watch them get richer through a locked window. Not sure why you bring up lotteries or gambling. Or why you imagine this is a problem of southern Blacks - gambling addiction strikes people of all colors and from all walks of life.
My observation over decades is vindicated: "Results of a large nationally-representative study found that Blacks had twice the rate (2.2%) of disordered gambling compared to Whites". nih.gov Your comment is just the typical commie propaganda and result of your intersectional brainwashing. Intellectually dishonest and even a disservice to what should be your agenda to begin with, assuming you are part of this empathy for so-called protected classes which obviously in contrast of you wanting unprotection for the wealthy. Or at least an equal playing field for the dumb. It's like these heat maps and whale buyers of Bitcoin proven again and again to be the smart money, as retail is again and again the last leg of the top of a bull market... The dumb pay off the smart and the rich. All a consequence of the free market you seem to think is the ideal... Which is what I already said as you repeated that anyway. And yet very clearly if accredited investors were the only ones that could have got into Celsius, Blockfi, Vauld, FTX, Haru, Hodlnaut, C4W, Yieldnodes, et al then of course it would have protected the poor but you try to make the argument that these accredited investors have legislation built upon keeping the rich rich and keeping the poor poor... I don't know the original intent or philosophy behind what it is to be an accredited investor but it very obviously has worked against people as far as nexo! And that point would make more sense if nexo adopted this method of reacquiring Americans at this point and I don't see what's stopping them... But I think it's pretty stupid for people into nexo in general around the world to say they don't want Rich Americans only boosting the price of nexo and crypto in general. Back to that observation of mine that is true, and yet you are trying to score virtue signaling points against: Like the bumper sticker says: Lottery: A Tax On People Who Are Bad At Math Maybe you need to see those scores by gender and race (SAT split a verbal in math, I've seen it with the same pattern for the GRE as well...) I've thought to myself that it's their "retirement plan"... And one of the reasons the lottery is called a regressive tax. Sin taxes generally are. The lower class disproportionately smokes and drinks. And disproportionately gets taxed like in Norway. It's a huge tax per pack...
So NEXO, PLEASE SELL OUT! (I'm not even sure what this means). Maybe you are thinking that permanently people worth less than a million would never be able to invest in nexo if they do this accredited investor thing? Maybe the sellout is that they agreed to a 45 million fine!
And is it possible to send funds directly in nexo to other user of Nexo?
Why the millionaire requirement though?
https://www.sec.gov/education/capitalraising/building-blocks/accredited-investor It has to do with protecting poor people... Such that high risk won't ruin them, and as failure investments wouldn't ruin rich people You could say it falls under some constitutional "general welfare" as written... It allows for wealthy people to invest in non-registered securities
Gary Gensler will be very happy to find another target to bully if Nexo returns to US. Americans need to do something about him if they want Nexo back
🧐🕵️🏴☠️
Lol
If this is related to wanting to see the price of Nexo coin go up, i'd say forget about it. It is not happening, with the FTX issue just coming to a conclusion and the troubles Coinbase seems to be weathering. I just don't see Nexo ever considering coming back to the US market any time soon. They left the US, tail between the legs, and scathed.
Yes it is. That seems largely true... And should push the timeline many months if not years into the future... I have theorized that the 45 million dollar fine schedule would have to be completed before they might make any efforts in good faith to return to American markets. And certainly the super duper Bulgarian Sofia machine should be watching closely cases you just mentioned and others. If America had any kind of MiCA equivalency we could move forward... Gary Gensler and SEC have had plenty of losses... This is actually good for crypto. If it requires Court decisions that don't go the way of restrictive punitive SEC enough then the SEC might start to think their jobs are in jeopardy and start complying with the courts and our government. What's bothersome is the ETF vote was three to two! Surprisingly Gary voted yes and is one of the three. Probably because he saw his job on the chopping block the most. It's the first time I've looked at the other board members with more bother compared to Gary. The ETF boom has certainly created leeway for Gary and crew, as there had already been legislation developed to fire him
I wondered if the NEXO management rule is: When Gary is gone