US STATE REGULATORS CONFIRM THAT NEXO IS TECHNICALLY INSOLVENT

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US STATE REGULATORS CONFIRM THAT NEXO IS TECHNICALLY INSOLVENT Like, retweet and read on for thread (Part 6 of Nexo threads) 🦦👇🏼🧵

Nexo in the past week has been revealed to 1. Be sued by 8 states in US 2. Caught lying by regulators about "being licensed" 3. Be technically insolvent Let's dive in and investigate the Bulgarian Bois!

1. Eight states in US have sued beleaguered crypto lender Nexo so far New York Attorney General (NY AG) stated that.. “Nexo violated the law and investors’ trust by falsely claiming that it is a licensed and registered platform" 🤡Bulgarian bois are caught lying to be licensed

October 2021, NY AG ordered Nexo to cease and desist However, the NY AG has found that the cease & desist order was ignored and resisted by Nexo through data provided by Nexo themselves! epic fail 🦦🤦🏼

Nexo has a love affair with cease & desist In June this year, Nexo legal team sent cease & desist letters through a blog post (lol) to otter's supporters, in an attempt to scare folks into quiet submission The funny part is, otter did not receive one! twitter.com/coingecko/status/1541504816509493248

Well now the US regulators are serving notices to Nexo Karma's a b!tch ain't it? 🦦🦦🤣🤣

2. Caught lying by regulators about "being licensed" Nexo is being sued by regulators for - selling unlicensed securities through "Earn Interest Product" - promises of high returns for participating investors - failing to register as a securities broker or dealer

in simple otter english, that means.. Nexo is being sued by regulators for running a high yield unlicensed unregistered ponzi scheme where more funds are needed to cover the hole that was previously created retweet this 🦦

otter has previously covered how Nexo tricks retail plebs into thinking its more legit than it actually is otter has also been submitting evidences to law enforcement to get this in motion NY AG findings matches with Part C of otter tweet below twitter.com/otteroooo/status/1539640662663999493?s=20&t=baP4vQkviK0MDYXHV1NcXA

3. NEXO IS INSOLVENT In the aforementioned lawsuit, Nexo is found to be using $NEXO tokens to bolster its balance sheet if not for $NEXO tokens, Nexo will have more liabilities than assets which is also known as INSOLVENCY! 🦦🦦💸💸

here's how it works 👇🏼 Nexo holds the majority of $NEXO tokens (~96%) Nexo pumps the price of $NEXO tokens on exchanges such that the remaining tokens it holds can be considered of that same value

FOR EXAMPLE if otter creates 100 FUXO tokens, keep 99 tokens and sell one FUXO token at $100 otter can then claim that since the last traded price of FUXO token is $100, all other FUXO tokens can be valued at $100 otter now has $100 X 99 = $9900 tokens of market value

of course, this assumes that otter is able to sell the remaining 99 FUXO tokens at the last traded price, which is near impossible! note that in this example, one only has the $100 received from the sale, not the $9900 that an attestation will attest to 🦦🤡

In short, Nexo has probably been using customer deposits to maintain the price of $NEXO and used the market value of its tokens to maintain the asset value on its balance sheet then tricking auditors into issuing attestations that assets exceed its liabilities (99% certain)

with damning evidences from State Regulators exchanges who allow trading of $NEXO are complicit to a crime akin to allowing $LUNC to trade after knowing its going to meltdown just so they can earn a few shekels AT THE EXPENSE OF USERS

exchanges that continue to allow the trading of $NEXO can be considered predatory and assisting crime if the exchanges truly cared for the crypto community, they will IMMEDIATELY DELIST $NEXO and stop this grand scheme @binance @HuobiGlobal @bitfinex @gateio @Bybit_Official

the game is up for Nexo and the Bulgarian boys but being in Eastern Europe, they will probably scot free Nexo users however are in for a world of pain when Nexo stops user withdrawals (99% certain) and starts to declare bankruptcy just like Celsius did

now otter needs your help in protecting folks folks who got misled into thinking that these ponzi-ish products are safe folks who will suffer immense stress in their family lives, financial lives, personal lives after losing money in "safe, regulated investments"

pls scroll up and share the first tweet to everyone you may know who still have money in Nexo get out there and retweet this so that the uninformed are informed share these tweets with your friends & family, save them from the impending disaster TOGETHER WE ARE ALL OTTERS

who is otter? otter is a crypto patriot who investigates dirty actors in this space otter is every single whistleblower who has ever fed info to this account otter will fight on to protecc everyday folks, even after receiving countless death threats 🦦👇🏼

below are 5 threads otter has written about Nexo before you may also find all the other ottery threads on pinned post of otter's profile 🦦📍 twitter.com/otteroooo/status/1539640615293448192?s=20&t=baP4vQkviK0MDYXHV1NcXA

twitter.com/otteroooo/status/1540862675306967042?s=20&t=baP4vQkviK0MDYXHV1NcXA

twitter.com/otteroooo/status/1541608622639091712?s=20&t=baP4vQkviK0MDYXHV1NcXA

twitter.com/otteroooo/status/1544891301182578688?s=20&t=baP4vQkviK0MDYXHV1NcXA

twitter.com/otteroooo/status/1547031596628262913?s=20&t=baP4vQkviK0MDYXHV1NcXA

after reading all these above if you still insist on leaving life savings with Nexo you NGMI now is not the time to be tribalistic now is not the time to be greedy for yields keep your funds safe in self custody let all these tide over

if otter's work has ever benefited you if otter's warnings gave you the time to escape please think of donating to otter half will be for charity BTC bc1qwat0txcf7y0l0htz7yfp3w0hv4vjk0xjvsve5d ETH and ERC20 coins 0xd0ABc03C0957a482FEFe7f95C06E364E55ab7325