Reining in Crypto

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According to the New York Times, the SEC fined cryptocurrency lending firm Nexo for violating federal securities law.

Questions:

  1. What misconduct was committed by Nexo?
  2. How much was the fine?
  3. Where was Nexo formed?

Source:

Yaffe-Bellany, D. (2023) Crypto Lender Nexo Is Fined $45 Million as Crackdown Widens. The New York Times, Jan. 19 (Retrievable online at https://www.nytimes.com/2023/01/19/business/nexo-sec-crypto-fined.html?)