{"id":10416,"date":"2024-01-24T16:28:45","date_gmt":"2024-01-24T16:28:45","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=10416"},"modified":"2024-01-24T16:30:37","modified_gmt":"2024-01-24T16:30:37","slug":"nexo-sues-bulgaria-for-3-billion","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/nexo-sues-bulgaria-for-3-billion\/","title":{"rendered":"Nexo sues Bulgaria for $3 billion"},"content":{"rendered":"

Nexo,<\/strong> a cryptocurrency lending firm, is suing the Bulgarian government for $3 billion<\/strong> in damages.<\/p>\n

\n

You might like: GBTC Struggles!<\/strong><\/span><\/em><\/a><\/p>\n<\/blockquote>\n

The company accused the country of engaging in unfair and oppressive criminal investigations and wrongful, politically motivated actions. The arbitration case seeks $3 billion from the Republic of Bulgaria<\/strong>.<\/p>\n

The company sent an email on Wednesday explaining the matter.<\/p>\n

The case was closed in December by the Bulgarian Prosecutor’s Office due to insufficient evidence and no evidence. There was a widespread restriction on cryptocurrency-related activities following the collapse of many cryptocurrency companies, including the sudden collapse of the FTX<\/strong> exchange.<\/p>\n

Nexo claimed that the investigation damaged its brand value and led to the loss of certain business opportunities, such as a potential initial public offering (IPO<\/strong>) in the United States.<\/p>\n

The allegations were filed with the International Centre for Settlement of Investment Disputes (ICSID<\/strong>) in Washington, DC, which is a part of the World Bank<\/strong>.<\/p>\n

\n

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Nexo, a cryptocurrency lending firm, is suing the Bulgarian government for $3 billion in damages. You might like: GBTC Struggles! The company accused the country of engaging in unfair and oppressive criminal investigations and wrongful, politically motivated actions. The arbitration case seeks $3 billion from the Republic of Bulgaria. The company sent an email on<\/p>\n","protected":false},"author":1,"featured_media":10417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[3906,58,2285,496,3907,3909,3698,3908],"class_list":["post-10416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bulgaria","tag-cryptocurrency","tag-exchange","tag-ftx","tag-icsid","tag-ipo","tag-nexo","tag-world-bank"],"yoast_head":"\nNexo sues Bulgaria for $3 billion - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Nexo sues Bulgaria for $3 billion!! 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