Despite Hodlnaut’s creditors insisting on the firm’s liquidation, the founders keep trying to save the business and sell it to potential investors. The founders of the troubled cryptocurrency lender Hodlnaut are trying to save the business despite creditors insisting on its liquidation. On Feb. 28, Hodlnaut’s interim judicial managers released the sixth affidavit of Hodlnaut…
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Researchers affiliated with Canada’s central bank identified weak points in DeFi lending protocols and reported on the potential they saw for mitigating them. The Bank of Canada has released a working paper that examines lending protocols in decentralized finance with regard to sources of instability and their relation to crypto asset prices. Its findings point…
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According to the DeFi protocol, different parties are currently involved in the funds’ recovery process, including legal enforcement officials. Decentralized finance (DeFi) firm Platypus is working on a compensation plan for user’s losses after a flash loan attack drained nearly $8.5 million from the protocol, affecting its stablecoin dollar-peg. In a Tweet on Feb. 18,…
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Florida’s Cogent Bank is proposing a $100 million participation in loans to MakerDAO’s RWA Master Participation Trust. Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between decentralized finance (DeFi) and traditional finance. As per MakerDAO’s governance forum, Cogent Bank — a Florida-based commercial…
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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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Hodlnaut’s court-appointed judicial managers are reportedly in the process of signing non-disclosure agreements with the potential buyers. Troubled cryptocurrency lending firm Hodlnaut is reportedly working with several potential investors to sell its business and other assets. A number of potential buyers have inquired about purchasing Hodlnaut and its claims against the collapsed crypto exchange FTX,…
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The seven-member committee will represent the creditors in court, having the right to participate in the reorganization plan. A seven-member committee has been appointed to represent the interests of unsecured creditors in Genesis Global bankruptcy case, according to court filings on Feb. 4. The committee will represent the creditors in court, having the right to…
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With FTX’s ripple effect on market liquidity, Everlend is closing its doors and urging clients to withdraw funds. Solana decentralized finance (DeFi) protocol Everlend Finance is closing down its operations and urging clients to withdraw funds from the platform. The company announced the decision on Twitter on Feb. 1, stating that despite having “enough runway”…
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The court-appointed examiner found many intentional and unintentional shortcomings at the bankrupt crypto lender dating back to its founding. Court-appointed examiner Shoba Pillay submitted her final report on select aspects of operations at bankrupt cryptocurrency Celsius on Jan. 31. The document was commissioned on Sept. 29 and is 470 pages long, not counting the 31…
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Many Gemini Earn users reportedly claimed assets in their accounts had been protected by the Federal Deposit Insurance Corporation. New York State’s Department of Financial Services is reportedly investigating cryptocurrency exchange Gemini over claims the firm made in regards to assets under its Earn lending program. According to a Jan. 30 report from Axios, the…
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