Crypto Firm Nexo Demands $3 Bln Settlement From Bulgaria After Probe Fallout

The Swiss-based crypto lender, Nexo AG, a subsidiary of Nexo Capital in the Cayman Islands, is seeking $3 billion in damages from Bulgaria over an abandoned criminal investigation. The company alleges that the inquiry initiated in January 2023 damaged its reputation and shareholder value. In addition, the organization claimed that the probe disrupted its plans for a U.S. stock market debut and a soccer sponsorship deal.