Coin Edition -
- Singapore-based crypto company Hodlnaut is being inquired about by potential buyers.
- Hodlnaut creditors have rejected a restructuring proposal to continue the business.
- Additionally, the creditors believe liquidation will provide maximum assets for distribution.
A Bloomberg report, noting a January 11 filing, published that potential purchasers are inquiring about the crypto lender Hodlnaut and its claims against the insolvent digital asset exchange FTX.
According to an affidavit acquired by Bloomberg News, “various parties who are interested in acquiring” Singapore-based Hodlnaut’s crypto platform and FTX claims have spoken with the temporary court managers in charge of the organization after it requested protection from creditors.
The document suggests that the court management is currently signing non-disclosure agreements with possible investors. Based on the affidavit, as of December 9 Hodlnaut Group owed the Algorand Foundation, Samtrade Custodian, S.A.M. Fintech, and Jean-Marc Tremeaux a total of $160.3 million, i.e. 62% of its outstanding debt.
Several crypto lenders struggled to survive last year, while many faced bankruptcy. Hodlnaut stopped…
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