Michael McSweeney / The Block:
NY, CA, and several other states take action against crypto lender Nexo, from sending cease and desists to suing, with interest-bearing accounts a main focus — A group of U.S. state regulators announced an array of legal actions against crypto lender Nexo on Monday.
Nikhilesh De / CoinDesk:
Crypto lender Nexo says it will exit the US market altogether in the coming months and immediately halt access to its Earn Interest Product in eight states — Nexo will immediately suspend access to its Earn product in several U.S. states. — Crypto lender Nexo announced Monday …
Jeremy Hill / Bloomberg:
A US bankruptcy judge orders Celsius to return ~$50M crypto deposits in non-interest bearing custody accounts, pending a decision on interest-bearing accounts — US Bankruptcy Judge Martin Glenn ordered Celsius Network LLC to return cryptocurrency that never touched the lender’s interest-bearing accounts to its customers.
Ryan Browne / CNBC:
Crypto lender Nexo buys a stake in the parent of Summit National Bank, a US regulated bank, paving the way for it to offer US licensed banking services — – Cryptocurrency lender Nexo said it has agreed to buy an undisclosed stake in Hulett Bancorp, which owns a little-known bank called Summit National Bank.
Osato Avan-Nomayo / The Block:
Hacker behind the Mango Markets exploit keeps $47M and returns $67M to the DeFi platform after a Mango community vote; he claims his actions were legal — – Eisenberg called the exploit a “profitable trading strategy” and said his actions were legal. — The Mango exploiter said the deal …
Michael McSweeney / The Block:
The Australian Securities Exchange paused its years-long blockchain project to replace its settlement and clearing system, saying it plans to write-off $175M — – The Australian Securities Exchange (ASX) is dropping a long-in-the-making blockchain-powered replacement for its CHESS settlement and clearing system.
Axios:
Elon Musk’s proposal to proceed with his Twitter bid for $54.20/share hinges on receiving debt financing and the end of all legal actions related to the deal — Elon Musk has offered to proceed with a $44 billion buyout of Twitter, according to a letter his lawyer sent to Twitter’s legal team that was submitted to regulators Tuesday.
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