Nexo Takes a Dig at Celsius, Claims They are Operating Normally

Crypto platform Nexo has informed its customers that all their deposits and withdrawals are being processed instantly. This post comes on the heels of Celsius’s controversial announcement that it has paused withdrawals and transfers between accounts due to “extreme market conditions.” 

“All Nexo products are operating normally – Borrow, Earn, Exchange, the Nexo Card,” reads Nexo’s tweet.

As always – deposits and withdrawals are processed instantly so that all of you can make the necessary arrangements in this latest downturn in the markets.

The comment section was sated with users tagging the Celsius network asking them to learn a thing or two from Nexo. Some users took the opportunity to ask Nexo about its T&Cs, wondering if they could freeze funds like Celsius.

This is the way @Mashinsky
Accept Nexo help as you are toghether part of the same space / environment

— Bogdan Dumitrescu (@BogdanDumitre17) June 13, 2022

Nexo further stated in the post that it is the first and only blockchain finance company to have a real-time audit of its custodial assets, showing that the company’s assets exceed its liabilities at all times.

The team claimed that it has never cheered for the failure of any blockchain business but has warned that operating a sustainable business model based on prudent risk management is what differentiates Nexo and allows them to maintain financial stability.

“As a sign of goodwill and in an attempt to support the digital asset ecosystem in these difficult times, yesterday we reached out to the Celsius team to offer our support, but our help was refused,” read one of the tweets in the thread. “We firmly believe that much can be done to help Celsius’ clients.”

Nexo also added that it is in а solid liquidity and equity position to readily acquire any remaining qualifying assets of Celsius. “We are putting together an offer to Celsius to that accord and will communicate it publicly.”