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Nexo is the next crypto company to fall. It has the same corporate structure as FTX. And Lehman Brothers.

(Nexo’s corporate structure. Source: Twitter)

(FTX corporate structure. Source: Twitter)

(Lehman Brothers corporate structure. Source: Twitter)

However, Nexo said it has zero exposure to contagion. On November 16 this year, an API error interrupted the auditor’s daily attestation of Nexo’s assets exceeding its liabilities. The problem was fixed hours later.

Binance’s financial auditor is the same one that audited Donald Trump’s company.

After the recent scandals, the only certainty we have is that today’s crypto market is a wild ocean.

While some are still worried about the FTX and BlockFi bankruptcies, Genesis and Grayscale are having serious liquidity troubles. They are insolvent.