Hodlnaut’s interim judicial managers have received inquiries from interested parties who seek to acquire the firm. The inquiries concern the assets owned by the Hodlnaut, including its claims against FTX.
According to Bloomberg’s report, Hodlnaut’s judicial managers are currently engaged in signing non-disclosure agreements (NDAs) with certain interested parties.
The report revealed that Hodlnaut owed debts amounting to $160.3M to Algorand Foundation (ALGO), Samtrade Custodian, SAM Fintech, and Jean-Marc Tremeaux as of December 9, 2022. The $160.3M sum amounts to 62% of Hodlnaut’s liabilities.
An earlier court filing stated that Hodlnaut had $14M worth of assets on FTX's platform before the exchange filed for bankruptcy in November 2022.
The news came almost a month after Hodlnaut’s creditors rejected its restructuring plan. Instead, the creditors were in favor of liquidating the crypto lender’s assets.
Hodlnaut is also under investigation by the Commercial Affairs Department of the Singapore Police Force on suspicion of “possible cheating and fraud offenses.”
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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