Posted 1/24/2024, 11:32:00 AM
Nexo Files $3 Billion Claim Against Bulgaria Over Dropped Investigations Into Crypto Lender
- Nexo filed $3B arbitration claim against Bulgaria for "wrongful and politically motivated actions" involving criminal investigations
- Investigations related to alleged money laundering, later dropped in December due to no evidence
- Nexo claims investigations damaged brand, reputation, and led to lost business opportunities like potential US IPO
- Claim submitted to World Bank's International Centre for Settlement of Investment Disputes
- Investigations part of crypto clampdowns following FTX collapse and other crypto firm failures in 2022