- Several potential buyers have signaled interest in a troubled crypto lender Hodlnaut Pteincluding his claims against insolvent crypto exchange FTX.
- Hodlnaut’s interim justice managers have received multiple proposals to acquire its Singapore-based crypto business after the company sought protection from creditors.
- According to an affidavit, “various parties interested in acquiring Singapore-based Hodlnaut’s crypto platform and FTX claims have contacted the interim judicial managers overseeing the company after it filed for bankruptcy protection seen by Bloomberg.
- Citing an affidavit, the Bloomberg report notes that justice executives are now signing non-disclosure agreements with the potential investors.
- The affidavit shows that as of December 9, Hodlnaut Group owed the Algorand Foundation, Samtrade Custodian, SAM Fintech and Jean-Marc Tremeaux a total of $160.3 million, or 62% of outstanding debt.
- In October, Hodlnaut downplayed its involvement in the Terra ecosystem and its sister token Luna (LUNC/USD) created by a refugee Do kwon leading up to and after his crash and had almost suffered one $190 million loss when it collapsed.
- In January, Hodlnaut’s major creditors opposed, and wanted to do, a proposed restructuring plan liquidate the company.
- Creditors believed their interests were best served by winding up the company as quickly as possible to “maximize the company’s remaining assets available for distribution,” according to the Algorand Foundation, one of the creditors.
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