Nexo seeks $3 billion in damages from Bulgaria over aborted investigation
Nexo says the investigations tarnished its reputation and hampered its growth. Bulgarian authorities dropped the Nexo case in December 2023, citing a lack of evidence. In one of today’s biggest Cryptocurrency News , Nexo, a leading crypto lender that is reportedly seeking $3 billion in damage s from Bulgaria. Specifically, as Reuters reported on Wednesday, Nexo AG, a Swiss arm of Nexo Capital, says last year’s aborted criminal investigation completely destroyed the company’s expansion plans, including a potential US listing. Nexo files for arbitration with ICSID Nexo, in a filing with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), says Bulgaria’s investigation tainted its reputation. It also wrecked shareholder value. As CoinJournal highlighted in December 2023, the Bulgarian prosecutor’s office announced a termination of the criminal investigations against Nexo and four of ...