NEM (XEM), a blockchain project building a network designed for better-performing smart assets, has had a rough start to the year after the new leadership published a report revealing it was on the verge of bankruptcy following a year of poor budget management.

The news was enough to drop the price of the coin from $0.065 to as low as $.034 — an almost 50% drop in a matter of weeks. However, following the larger market recovery over the last week, XEM has rallied more than 17% to $0.043702.

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