[K-Bridge/Samuel]
Nexo to Reenter US Market After Two-Year Regulatory Exit and $45 Million Settlement
By Naga Avan-Nomayo
Companies • April 28, 2025, 6:22 AM EDT
Quick Take
- The crypto lender announced its U.S. comeback at a private event attended by Donald Trump Jr., son of the President, among others.
- Nexo previously exited the United States due to multi-agency investigations and eventually paid $45 million to settle charges with federal and state watchdogs.
The company revealed its return during a closed-door business event, where it announced plans to reintroduce crypto savings accounts, asset-backed loans, and other core offerings for both retail and institutional customers.
Zug-based Nexo left the U.S. market in 2022 amid centralized lenders like BlockFi, Celsius, and Voyager declaring bankruptcy. Unlike competitors, Nexo’s retreat stemmed from regulatory probes rather than insolvency. The company started halting access to its Earn Interest Product in several US states in 2022.
Now, under President Donald Trump’s administration, which has signaled a shift in crypto oversight and a pivot away from the enforcement action style adopted by former SEC Chair Gary Gensler, Nexo is staging a comeback. The Trump administration has signaled intentions to reduce regulatory hostility toward crypto, including withdrawing some SEC investigations.
