{"id":489025,"date":"2022-08-30T23:00:00","date_gmt":"2022-08-30T20:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amid-crypto-winter-nexo-commits-additional-50m-to-buyback-program\/"},"modified":"2022-08-30T23:00:00","modified_gmt":"2022-08-30T20:00:00","slug":"amid-crypto-winter-nexo-commits-additional-50m-to-buyback-program","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amid-crypto-winter-nexo-commits-additional-50m-to-buyback-program\/","title":{"rendered":"# Amid crypto winter, Nexo commits additional $50M to buyback program"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2624b8b7436\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2624b8b7436\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/amid-crypto-winter-nexo-commits-additional-50m-to-buyback-program\/#%E2%80%9D_Amid_crypto_winter_Nexo_commits_additional_50M_to_buyback_program_%E2%80%9C\" >&#8221; Amid crypto winter, Nexo commits additional $50M to buyback program  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Amid_crypto_winter_Nexo_commits_additional_50M_to_buyback_program_%E2%80%9C\"><\/span>&#8221; Amid crypto winter, Nexo commits additional $50M to buyback program  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-3511d6da>Crypto lending platform Nexo has increased the size of its buyback program, giving the company more discretionary ability to repurchase its native token to boost interest payments or make strategic investments in the future.<\/p>\n<p>On Tuesday, Nexo disclosed that its board of directors had committed an additional $50 million to buybacks, building off the company\u2019s initial $100 million repurchase program launched in November 2021. The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval green lights the discretionary repurchase of up to $50 million worth of NEXO tokens on the open market. <\/p>\n<p>NEXO is the platform\u2019s native cryptocurrency, giving users the ability to earn interest and lock in lower rates for borrowing. The token currently has a market capitalization of $563.6 million and 24-hour trading volumes of $46.7 million, according to Nexo\u2019s website.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/dfea8a86-d7b7-4bc6-9099-5ca296ed1e3e.jpg\"><figcaption style=\"text-align: center;\"><em>NEXO market cap chart. Source: CoinMarketCap.<\/em><\/figcaption><\/figure>\n<p>The company said it increased the size of its repurchase program to demonstrate its \u201csolid liquidity position\u201d and willingness to invest in its community. The initiative will be carried out over six months, with all repurchased tokens subject to a 12-month vesting period. Once the vesting period is satisfied, the repurchased tokens may be used to pay daily interest via NEXO tokens or make strategic investments \u201cvia token mergers,\u201d the company said.<\/p>\n<p>Nexo has been keen to demonstrate its financial strength amid the bear market, going as far as seeking advice from Citigroup on how best to acquire distressed crypto firms. While the whole of the crypto industry has been rocked by the implosion of the Terra ecosystem, centralized finance companies like Celsius, Voyager Digital and BlockFi have faced the biggest blowback.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>\u2018Smear campaign\u2019: Nexo responds to accusations of stealing donations, siphoning funds from charity<\/em><\/strong><\/p>\n<p>The cryptocurrency market remains in a precarious state with Bitcoin (BTC) exhibiting a strong correlation to traditional equities. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=22pBCqwCfEk\">Some analysts fear<\/a> that this strong correlation could ignite another selloff of digital assets as traditional markets continue to react to Federal Reserve jawboning. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/amid-crypto-winter-nexo-commits-additional-50m-to-buyback-program\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Amid crypto winter, Nexo commits additional $50M to buyback program &#8220; Crypto lending platform Nexo has increased the size of its buyback program, giving the company more discretionary ability to repurchase its native token to boost interest payments or make strategic investments in the future. On Tuesday, Nexo disclosed that its board of directors&#8230;<\/p>\n","protected":false},"author":1,"featured_media":489026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvYTllZDZkYTMtM2YyNS00NjIxLWE1MzgtMzdlMDZlZmZjZDdhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[129187,77595,71939,117],"class_list":["post-489025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cefi","tag-lending","tag-banks","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/489025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=489025"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/489025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/489026"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=489025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=489025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=489025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}