This move has come because of Trump

There was loads of talk ahead of trump being sworn in how he would be pro crypto, with his team and bitcoin covering reserve.

We even saw Kris (crypto dot com CEO) at trumps inauguration.

Why Nexo has made these changes?

1) Crypto adoption is driving the bull market.

driving down supplies and increasing costs. For a business offering interest rates, they no longer need to position themselves as a niche in the market with interest on crypto assets, since more people are now coming into the scene

2) the contraction of the economy.

We are seeing layoffs and reductions across the board, Nexo is one of them too, they want to resize their balance sheets, reduce their liabilities and one way is to simply reduce admin from people under $5k as they’ve calculated that’s where most costs are associated.

3) banks will be offering crypto assets to their customers.

Trump signed an executive order that allows banks to now have crypto assets on their sheets, before, they weren’t allowed. This means that like JPMorgan will be offering their customers the ability to buy crypto DIRECTLY from their bank account

4) ETFS

Blackrock, Greyscale, these institutions offering shares on the stock market opened up the doors to wealthy investors from last year

Conclusion

Whether this is a good/bad move by Nexo is up to you decide as a customer, and whether you think the company is in a good/bad spot.