In a dramatic culmination to a turbulent period for Hodlnaut, the Singapore High Court has ordered the crypto lender’s liquidation, tasked with the daunting goal of reimbursing its 17,000 customers. The judicial decree follows Hodlnaut’s entanglement with the fallout of Terra’s decline and the company’s subsequent $193 million deficit. Crypto Lender Hodlnaut Winds Up, Facing…
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Source: Hodlnaut The Singapore High Court has ordered cryptocurrency lending platform Hodlnaut to undergo liquidation, as stated in a court document dated November 10. The court has appointed Aaron Loh Cheng Lee and Ee Meng Yen Angela, both from corporate advisory firm EY, as the joint liquidators for Hodlnaut. The decision comes after the two were initially…
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According to a recent court filing, interim judicial managers for the troubled crypto lender Hodlnaut oppose a takeover by the crypto firm OPNX, which is linked to the now-defunct crypto hedge fund Three Arrows Capital and its founders. OPNX Takeover Faces Resistance from Hodlnaut’s Judicial Management On September 19, 2023, Bloomberg’s Suvashree Ghosh reported on…
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OPNX, a digital asset exchange created by the founders of failed hedge fund Three Arrows Capital, has proposed a takeover of the struggling crypto lender Hodlnaut. OPNX has offered to inject $30 million worth of FLEX digital tokens into Hodlnaut to fund a partial creditor payout, Bloomberg reported, citing a source familiar with the matter and a term sheet…. Read…
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A court in Singapore is poised to make a crucial decision about the future of crypto lender Hodlnaut during an upcoming hearing scheduled for August 7, a recent filing has revealed. The decision stakeholders now are waiting for the court to make is on whether Hodlnaut will be dissolved, or if a reorganization plan that…
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Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or…
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Potential buyers have shown interest in the embattled cryptocurrency lending company Hodlnaut and its claims against now-bankrupt digital asset exchange FTX. According to a Monday report by Bloomberg, “various parties who are interested in acquiring” the Singapore-based crypto platform have reached out to the interim judicial managers overseeing the company after it sought protection from creditors…. Read…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Bitget to Direct ₺1M to Help Turkey Earthquake Victims, UK Sets Prison Punishment for Breach of New Crypto Ad Regime, Interpol Wants to Police Metaverse Read more »Sign…
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According to a report, the embattled crypto lender Hodlnaut saw a significant loss from the Terra blockchain collapse last May. The report notes that Hodlnaut downplayed the company’s exposure to the Terra ecosystem and allegedly lost $190 million from the incident. Report Says Hodlnaut Downplayed Terra Exposure Following the Collapse More than 1,000 deleted documents…
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The Foundation stated that it is “pursuing all legal remedies to maximize asset recovery.” The Algorand Foundation has revealed a $35 million USDC hole in its balance sheet as a result of exposure to embattled cryptocurrency lending firm Hodlnaut, which has paused withdraws since Aug. 8. Algorand is an institutional-grade blockchain infrastructure with embedded smart…
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