The crypto-friendly US-based bank Silvergate had less than $20m in exposure to the now-bankrupt US-based crypto lender BlockFi. But with yet another bankruptcy in the space, more people are now asking if Nexo – one of the last major crypto lenders still standing – will be the next to go down.

BlockFi, once a major crypto lender alongside competitors Nexo and now-bankrupt Celsius, filed for bankruptcy on Monday this week.

The bankruptcy comes after BlockFi froze all customer withdrawals in the aftermath of the FTX collapse. BlockFi in mid-November admitted that it had “significant exposure” to FTX and its affiliated companies.

Like many other centralized crypto lenders and exchanges, Nexo has issued its own token. Since the beginning of this year, the NEXO token has lost more than 75%. On Tuesday alone, the token was down 4.25% as of the time of writing, and currently trades at $0.643.

(by Fredrik Vold)