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Nexo's $3 Billion Arbitration Claim Against Bulgaria: Unveiling the Legal Battle

Nexo, a prominent crypto lending firm, has recently filed a $3 billion arbitration claim against the Republic of Bulgaria following a year-long criminal investigation into the company and its founders. In a press release on Wednesday, Nexo strongly argued that Bulgaria's investigation was unjustified and politically motivated, resulting in significant reputational damage and lost business opportunities estimated to be in the billions. The company, now cleared by the Bulgarian Prosecutor's Office, is seeking reparations for the financial harm suffered as a result of the investigation. Key Points: Nexo is one of 22 investors in Decrypt. The company had to abandon plans for a funding round with leading U.S. banks and an IPO on a major U.S. stock exchange due to the lawsuit. Nexo was finalizing a strategic alliance with a major European football club, which included the launch of a club-branded crypto payment card. Antoni Trenchev, co-founder of Nexo, emphasized that the arbi

CACEIS Bank, Asset Arm of Crédit Agricole and Santander, Receives French Crypto Custody License

CACEIS Bank, the asset servicing arm of Crédit Agricole and Santander, has recently been granted a crypto custody license by the French regulator. This is a significant development for the bank, as it arrives just in time to avoid being subject to France's new crypto regulations. With this new license, CACEIS Bank will be able to offer its clients the ability to securely store their digital assets with the bank.

The move by CACEIS Bank to obtain a crypto custody license is a strategic one, as the demand for crypto storage services is increasing rapidly. With the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs), the need for reliable and secure crypto storage solutions has become more critical than ever before.

With this new license, CACEIS Bank will be able to offer its clients a range of services, including secure storage, trade execution, and settlement. This will enable the bank to cater to the needs of institutional clients who are looking for a reliable and trustworthy partner to help them navigate the world of cryptocurrencies.

The license granted to CACEIS Bank is a significant milestone for the bank, as it demonstrates its commitment to the crypto industry. It is also a positive development for the industry as a whole, as it shows that traditional financial institutions are beginning to take cryptocurrencies seriously and are willing to invest in the infrastructure required to support them.

Overall, the granting of a crypto custody license to CACEIS Bank is a positive development for the crypto industry and the wider financial sector. It is a clear indication that the demand for crypto storage solutions is increasing rapidly and that traditional financial institutions are starting to take notice. The move by CACEIS Bank is a strategic one, as it positions the bank to take advantage of this growing demand and to provide its clients with the services they need to succeed in the world of cryptocurrencies.

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