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Nexo Co-founder Say Wednesday’s Crypto Crash Cleaned Up ‘Excessive Leverage’

Amy Liu

Summary: During Wednesday’s market correction lenders were more prepared. The latest dip didn’t hurt as much as March 2020, but it did clear out “excess leverage,” said Nexo co-founder and managing partner Antoni Trenchev.  “It was so rapid. Because there was quite a lot of leverage, that’s why the crash was so deep,” Trenchev said. “Now ...

During Wednesday’s market correction lenders were more prepared. The latest dip didn’t hurt as much as March 2020, but it did clear out “excess leverage,” said Nexo co-founder and managing partner Antoni Trenchev. 

“It was so rapid. Because there was quite a lot of leverage, that’s why the crash was so deep,” Trenchev said. “Now that it’s cleaned up we don’t have such excessive leverage in the system right now. That’s why we’re seeing this recovery right now.”

By Amy Liu

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Link: Nexo Co-founder Say Wednesday’s Crypto Crash Cleaned Up ‘Excessive Leverage’   [Copy]
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