Over the last two years, we've worked to build up a community of readers that are engaged with our content. We want readers of this site to be comfortable to ask the questions they were too afraid to ask anywhere else, and we really want to provide value to our community in all aspects.
A few months ago, we began reaching deals with companies to promote their products, in exchange for commission. In the blogging world, this is known as affiliate marketing, and we've been fortunate to work with some well-known and reputable brands. Unfortunately, we saw one of our partners in the news this week and I wanted to quickly address it.
Our first affiliate partnership was with a cryptocurrency exchange called Nexo. At the time, they were a leader in the space and not as well known as something like an FTX or Coinbase, so we figured this was a beneficial partnership for both this blog and Nexo as a brand. This week, Nexo was fined $45 million by the United States Securities and Exchange Commission for "failing to register the offer and sale of its Earn Interest Product (EIP)." Effectively, Nexo was offering high-interest products that turned out to be unregistered securities with the U.S federal government. They are also reportedly under investigation in Bulgaria under suspicion of money laundering, tax offenses, banking without a license and computer fraud, though none of those charges have been formally brought against the company by Bulgarian authorities as of time of writing.
Moving forward, we have terminated our relationship with Nexo and we will no longer be offering Nexo codes, deals or promotions for any of their products, and we are currently in the process of removing their existing promotions from this site. We apologize for anyone potentially hurt by this situation, or who was impacted in any way. Thanks for your patience, and as always, thank you for taking the time to read our site.
If you have any questions regarding Nexo's involvement with the site, please feel free to reach out directly to me using the site's contact form.
