Nexo commits additional $50M to buyback program

On Tuesday, Nexo disclosed that its board of directors had committed an additional $50 million to buybacks, building off the company’s initial $100 million repurchase program launched in November 2021.

The approval green lights the discretionary repurchase of up to $50 million worth of NEXO tokens on the open market. The company said it increased the size of its repurchase program to demonstrate its “solid liquidity position” and willingness to invest in its community.