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 (Nikhilesh De/CoinDesk)

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.

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.

Nikhilesh De / CoinDesk:
FTX US warns users to close their positions as it might halt trading in the coming days, hours after SBF said in a Twitter thread that FTX US was “100% liquid”  —  Sam Bankman-Fried said the FTX US entity’s users would be able to withdraw all their funds.

Nikhilesh De / CoinDesk:
BlockFi pauses withdrawals and asks users not to deposit to its wallet or interest accounts, saying it can’t operate normally amid “lack of clarity” around FTX  —  BlockFi had made a deal with FTX earlier this year.  —  Crypto Lender BlockFi said it could not conduct business …

Nikhilesh De / CoinDesk:
Filing: Vermont says Celsius CEO Alex Mashinsky repeatedly misled investors about the lender’s finances and used its own CEL token to bolster its balance sheet  —  The crypto lender admitted in a recent creditor call that it could not earn enough revenue to support its yields, the Vermont Department of Financial Regulation said.

Alexandra S. Levine / Forbes:
At Code, CEOs and politicians voiced concerns about TikTok’s power, rapid growth, and surveillance potential, with some calling for it to be banned altogether  —  At the Code Conference in LA, tech and media CEOs and politicians all expressed concerns about the Chinese-owned app — as a competitor, and as a national security risk.