Considering the real-time audit, Nexo got completely different business model from what took place in Celsius, where they had a clear Ponzi scheme.
There is no different business model!
Celsius didn't go ponzi, they simply overlend money and a liquidity crash took them down s they had money in all the wrong places.
Nexo is, for now, it just playing it safer, acting more like a traditional bank but this doesn't mean that's safe and doesn't mean that it will guarantee any kind of profits whatsoever.
As for audits, we have all seen how much trust you can put in those, Binance got a perfect audit then the company decided to cut all ties with them.
Also, Nexo got licenses in US and EU which is a very good sign since all shady companies avoid these locations at all costs and usually prefer having a registration in some offshore zone.
https://www.sec.gov/news/press-release/2023-11#:~:text=Specifically%2C%20the%20SEC's%20order%20notes,EIP%20accounts%20of%20U.S.%20investors.
“We charged Nexo with failing to register its retail crypto lending product before offering it to the public, bypassing essential disclosure requirements designed to protect investors,” said SEC Chair Gary Gensler. “Compliance with our time-tested public policies isn’t a choice. Where crypto companies do not comply, we will continue to follow the facts and the law to hold them accountable. In this case, among other actions, Nexo is ceasing its unregistered lending product as to all U.S. investors.”
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