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| Name | Nexo Doesn't Provide Real Time Audits Anymore - How Safe Is It? |
| Video Uploader | Video From Brave New Coin |
| Upload Date | This Video Uploaded At 11-06-2024 07:10:56 |
| Video Discription | Nexo Doesn't Provide Real Time Audits Anymore - How Safe Is It? In September 2021, Nexo was the first major crypto lending platform to provide a publicly accessible real-time audit of its assets and liabilities. At the time the audit was housed and delivered via an Armanino project called TrustExplorer which Nexo described as “the world’s first application that provides independent accountant reports in real-time.” Using the TrustExplorer Real-Time Assurance Platform, anybody could download a six-page report that was up-to-the-minute accurate. At the time of its launch in September 2021, Nexo’s audit showed its “customer liabilities” totalled $9.4 Billion. In mid-2023, the same audit showed customer liabilities at $1.9 Billion, a decline of around 80% in under two years. Read the full story here https://mooloo.net/crypto-platform-audits/ |
| Category | Education |
| Tags | nexo review | nexo tutorial | nexo crypto | Nexo | real-time audits | crypto lending | TrustExplorer | Armanino | crypto transparency | customer liabilities | FTX collapse | blockchain audits | crypto assets | financial health | crypto-backed loans | margin lending | alpha generation | DeFi protocols | crypto industry | SEC fine | Nexo Trust Reserve | high interest rates | digital assets | liquidity concerns | crypto regulation | transparency issues | Nexo business model | audit firms exit. |
