Nexo-branded title pulls $153 million in BTC wrapped from MakerDAO by Cointelegraph

Just days after market analysts predicted a 50% drop in the price of NEXO due to regulatory pressures and investor fears, a cryptocurrency wallet address called NEXO 0x8fd 7,758.8 rolled (WBTC) — worth approximately $153 million — has been withdrawn from MakerDAO.

• Nexo acquires a stake in the holding company that owns a bank registered in the United States.

On September 26, regulators from eight US states filed a cease and desist order against Nexo for allegedly providing unregistered securities to investors without notice. In addition, Kentucky regulators have charged Nexo with insolvency due to liabilities outweighing assets by excluding Nexo.

• Amid the bearish cryptocurrency market, Nexo commits another $50 million to its buyback program

For his part, on September 30, blockchain researcher Peckshield alerted to the transfer of 7,758.8 WBTC from MakerDAO. One of the main reasons the crypto community has linked the withdrawal to Nexo bankruptcy rumors is the name of the wallet: Nexo: 0x8fd.

Read the full article on Cointelegraph