What happens if Nexo goes bust?

With the volatility of the cryptocurrency market, many investors are understandably concerned about the financial stability of platforms like Nexo. So, the question begs: What happens if Nexo goes bust? The scenario would likely involve a number of critical steps. Firstly, customers' funds would likely be frozen pending further investigation by regulators and potentially, a liquidation process. Secondly, depending on the extent of Nexo's insolvency, investors may not recover their entire deposits. Additionally, the collapse of Nexo could lead to a loss of trust in the broader crypto lending sector, potentially affecting other platforms. It's crucial for investors to do thorough research and diversify their portfolios to mitigate such risks.