Several Buyers Express Interest In Crypto Lender Hodlnaut, And Its FTX Claims

Several potential buyers have signaled interest in troubled crypto lender Hodlnaut Pte, including its claims against the bankrupt crypto exchange FTX.
Hodlnaut's interim judicial managers have received multiple proposals to acquire its Singapore-based crypto business after the company sought protection from creditors.
"Various parties who are interested in acquiring" Singapore-based Hodlnaut's crypto platform and FTX claims have contacted the interim judicial managers overseeing the company after it sought protection from creditors, according to an affidavit seen by Bloomberg.
Citing an affidavit, the Bloomberg report notes that the judicial managers are now signing non-disclosure agreements with the potential investors.
The affidavit indicates that as of December 9, Hodlnaut Group owed a combined $160.3 million, or 62% of outstanding debt, to Algorand Foundation, Samtrade Custodian, S.A.M. Fintech, and Jean-Marc Tremeaux.
In October, Hodlnaut downplayed its exposure to the Terra ecosystem and its sister token Luna (LUNC/USD), created by fugitive Do Kwon in the run-up to and after its crash and had suffered a nearly $190 million loss as it collapsed.
In January, Key creditors of Hodlnaut rejected a proposed restructuring plan and wanted to liquidate the company.
The creditors believed their interests were best served by winding down the firm as soon as possible to "maximize the company's remaining assets available for distribution," as stated by Algorand Foundation, one of the creditors.

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Several Buyers Express Interest In Crypto Lender Hodlnaut, And Its FTX Claims