About a fortnight ago we covered the closure of Global Currency Reserve.

The closure was announced by CEO Bob Wood on December 31st, via an
email sent out to GCR affiliates
.

Nexxus University was touted as a rebranded opportunity going forward, however this time with new ownership and management. Details have otherwise been sketchy.

Now in a Nexxus University webinar held a few days ago, a ton of information regarding the closure of Global Currency Reserve and formation of Nexxus University has been clarified.

The webinar in question was held on or around the 9th of January, with Bob Wood (right) doing most of the talking.

And if you’re wondering why Bob Wood is hosting Nexxus University webinars, when supposedly it’s a new company with new ownership and management, here’s how he explains it:

When I organized the new company, I also went out and organized the investors.

So the owners and the funding sources for the new company, I put that all together. Basically
I own the company
and brought in some people that are funding partners to provide the money.

The funding partners are involved in the networking side of the business. They provided the funds to build the new company.

Their reward for doing that has been in the marketing plan. They have favorable positions in the marketing plan.

They wanted to remain anonymous because they did not want any retaliation against them.

The (new) company is not located in the United States.

The (new) company, the banking relationships and the credit card processing will be located in Belize. Everything is (now) happening out of Belize because of regulation (in the United States).

In the webinar, Wood does not clarify how Nexxus University is a new company with him still at the helm.

The funding sources for the new company insisted on having a new management team to run the new company.

Nor does Wood disclose who the purported “new management” is.

As to the specifics of why Global Currency Reserve closed, Wood explains the primary reason was hacking, which in turn lead to the theft of 86 million GCR Coins.

GCR Marketing made the decision to close because it couldn’t support itself financially.

When the coin went public, GCR Marketing as a company had several serious problems.

Number one, the price of the coin crashed. Number two, a hacker was attacking user’s accounts inside and outside the system.

Because of that, sales had dropped to nearly nothing. And the company did not have the revenue to invest in the Nexxus development.

The crash of GCR Coin’s value, Wood contends, was a result of sabotage by their developer.

Our very first GCR Coin was built back when we first started the company, by a consultant that we hired called Anthony.

We ran into a bunch of problems with Anthony, not being accurate, not disclosing information, not giving us information that we needed for the coin, not giving us the source-code.

We ran into all sorts of problems with Anthony, so we decided to hire a ne

🤖 Quick Answer

What happened to GCR Marketing?
Global Currency Reserve closed on December 31st following an announcement by CEO Bob Wood via email to affiliates. The closure was subsequently clarified during a Nexxus University webinar held around January 9th, where details regarding the shutdown and the formation of the successor company were disclosed to participants.

Why was an SEC investigation launched against GCR?
The article excerpt provided does not contain specific details regarding the reasons behind the SEC investigation. The text mentions the investigation was launched but does not elaborate on the underlying regulatory concerns or violations that prompted the federal agency's intervention.

What is Nexxus University?
Nexxus University was presented as a rebranded successor opportunity to Global Currency Reserve, ostensibly featuring new ownership and management structures. However, specific operational details regarding its business model and organizational framework remained limited in available disclosures at the time.

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