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Crypto Lending Platform Nexo to Exit US Market

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Today’s Cryptocurrency Headline

Crypto lending platform Nexo announced on Monday that it will stop providing products and services in the United States in the next few months, and will no longer sign up any new U.S. customers to use its products. Nexo said it has been in talks with U.S. state and federal regulators, but those talks have hit a dead end. The Consumer Financial Protection Bureau (CFPB) has maintained its authority to investigate Nexo’s products, the company said in a statement. 

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to CoinShare, digital asset investment products saw minor outflows totalling US$7.5m last week. Bitcoin is down 1.20% over the last 24 hours and fell to an intraday high of $16,869.24. The largest cryptocurrency rose to $17,429.88 early today, but the price was not able to move to a higher level, suggesting the seller remains active. If the price drops below the 20-day EMA ($16,979), the BTC/USDT pair could remain range-bound between $16,000 and $17,000 for a few days.

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