Hey Peeps!
On February 6th, Bloomberg News published a report that claims “various parties are interested in acquiring” Singapore-based crypto platform, Hodlnaut.
The prospective buyers are supposedly in the process of signing non-disclosure agreements with Hodlnaut and the judicial managers.
In my opinion, the fact that the interested parties are already signing non-disclosure agreements, is a good sign that the talks are getting serious.
Bloomberg also reported that they were able to see an affidavit that stated Hodlnaut owes about $160 million "to Algorand Foundation, Samtrade Custodian, S.A.M. Fintech and Jean-Marc Tremeaux".
Hodlnaut has had a rough journey to this point:
- On August 8th 2022, Hodlnaut froze all customer withdrawals, deposits, and swaps.
- August 19th, Hodlnaut fired 80% of it's staff to cut costs and save money.
- October 31st, a judicial report was released announcing that Hodlnaut had lost nearly $190 million from the collapse of Terra.
- November 11th, Hodlnaut's managers released a report stating that about 72% of their assets, totaling about $18 million, were deposited in FTX.
- November 23rd, the Singapore Commercial Affairs Department launched an investigation into Hodlnaut for possible fraud.
As you can tell, it clearly was not an easy road for Hodlnaut, but they have somehow survived 2022 and are now on the verge of being purchased and saved.
Hodlnaut also has a claim against FTX for the $18 million assets that are still locked up on the crypto exchange.
Hopefully we hear more about this in the coming weeks and I would love for it to be positive news.
I would like to see Hodlnaut customers be made whole and get their crypto assets back as soon as possible!
Which companies do you think are interested in Hodlnaut? Maybe Coinbase or Binance?
Do you think this will actually happen and Hodlnaut will be purchased?
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