Nexo,
Youhodler,
BlockFi, etc. have a business model involving lending and borrowing for cryptocurrency assets. These are Riba (interest) based businesses, strictly prohibited in Islam.
Additionally, they are HIGH risk businesses since they are dependent on borrowers for loan repayment. Some of them have gone bankrupt because borrowers were unable to return their loans or pay the interest due.
Halal.io’s revenue comes from crypto trading. We share profits every month with investors. We do not lend to third-parties or make revenue from charging interest.