Two years after exiting the US market due to regulatory challenges, Nexo has announced its return, citing a more favorable environment for crypto innovation under the Trump presidency. At a recent press conference in Bulgaria, attended by Donald Trump Jr., Nexo Co-founder Antoni Trenchev expressed gratitude towards the Trump administration for fostering an environment that supports innovation.
"The US has once again become a hub where innovation is encouraged and pioneers are valued," Trenchev stated, highlighting the positive shift in the regulatory landscape. With $11 billion in managed assets, Nexo plans to offer its comprehensive suite of services to US clients, including high-yield savings options, asset-backed credit lines, and advanced trading solutions. The company's decision to withdraw from the US in 2022 was prompted by a regulatory standoff and market volatility sparked by the collapse of crypto exchange FTX. Nexo had previously described the environment as "impossible" due to multiple enforcement actions from state and federal regulators, including those in California and New York.