Nexo exec says cheap money is here to stay

The founder of the Nexo platform shared his stance on the current and future of the crypto market and explained how it may face problems because of the Federal Reserve. 

Nexo is a crypto lending platform and this platform is known for its services under huge compliance-based process. The popularity and success of the Nexo platform can be seen through its partnership with Fidelity to give crypto easy access to institutional investors. 

On 7 February, Antoni Trenchev, founder of crypto lending platform Nexo, appeared in an interview with CNBC. In the interview, Antoni shared his thoughts on how the crypto and traditional stock market are correlated. 

Antoni stated that he is doubtful highly with the plans of the Federal Reserve to hike the interest rate because he is tense about the ways to implement it. 

“You know I have been very skeptical as to the actions, while the Federal Reserve and the proposed rate hike how that ultimately will unfold.”

Further, Antoni said that he believes that cheap money will stay in the world and it is highly beneficial to the crypto market.

“My take is that cheap money is here to stay, and this is very good for assets such as crypto.”

So, Antoni believes that strict rules of the Fed may result in some negative responses to the industry but it will continue to perform perfectly in the long run. 

Antoni further added:

“Cheap money is here to stay, the consumer price index is expected to come in at 7.2%. The last time we had anything like this was back in the 1980s and the Fed’s response back then was to raise interest rates by 20%.”

Additionally, the Nexo founder believes that Metaverse and NFTs will result in better use cases. In particular, he appreciated the concept of NFTs technology to use in the ownership of houses and other properties. 

Read also: Binance CEO warns crypto traders against Massive Phishing Scam