The troubled crypto lender Hodlnaut shared another update after the company froze withdrawals on August 8, and then revealed the company is seeking judicial management in order to rehabilitate the startup. The latest update shows that Hodlnaut experienced a shortfall of around $193 million and this past week the company has laid off roughly 80%…
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Embattled cryptocurrency lending platform Hodlnaut cuts staff ahead of application for judicial management. Cryptocurrency lending firm Hodlnaut has cut most of its workforce and has applied to be placed under judicial management due to bleak financial circumstances. Hodlnaut, which offers interest-bearing cryptocurrency investment options in vetted institutions, confirmed the dire state of affairs on Friday.…
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Eight days ago, the crypto lender Hodlnaut announced that the platform was suspending withdrawals after citing volatile market conditions. This week the company says it is seeking judicial management that aims to “provide the best chance of recovery.”
Hodlnaut Updates Customers — Crypto Lender Asks Singapore High Court for Judicial Management
The crypto lender…
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On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra…
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“We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto,” said Khairi Azmi. Singapore-based crypto lending platform Hodlnaut will partner with United States crypto exchange Okcoin in an effort to drive adoption and crypto transactions among users. In a Wednesday announcement, Hodlnaut…
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