Crypto Lender to Pay Illinois Investors More Than $400K

A crypto lender will be paying Illinois investors more than 400-thousand-dollars.  Secretary of State Alexi Giannoulias announced that Illinois will receive the funding as part of the 45-million-dollar multi-state settlement with Nexo Capital.  Nexo’s Earn Interest Product accounts allowed customers to deposit crypto assets with the lender.  Illinois found that when Nexo offered its EIP, it failed to disclose material information about the investment and didn’t disclose all the risks associated with the digital assets.