Hodlnaut, a Singapore-based crypto firm that collapsed following huge exposure to the Terra Luna UST, is reportedly in serious talks with potential buyers to liquidate remaining assets. According to a report by Bloomberg, potential buyers have contacted the appointed interim judicial managers to inquire about Hodlnaut\u2019s crypto assets including claims against the collapsed crypto exchange FTX.<\/p>\n
\u201cVarious parties who are interested in acquiring Singapore-based Hodlnaut\u2019s crypto platform and FTX claims have contacted the interim judicial managers overseeing the company after it sought protection from creditors,\u201d an affidavit seen by Bloomberg noted.<\/p>\n
Reportedly, Hodlnaut\u2019s FTX accounts held 514 Bitcoin, 1,395 Ether, 280,348 USD Coin <\/p>\n
USDC tokens and 1,001 FTX (FTT) tokens. Hodlnaut held more than $18 million worth of digital assets on centralized exchanges like FTX, Deribit, Binance, OKX, and Tokenize according to court documents.<\/p>\n
Despite holding substantial assets worth restructuring and reopening the company, Hodlnaut\u2019s creditors rejected the bid by requesting immediate liquidation. As such, the interim judicial managers have been conducting close talks to liquidate the available Hodlnaut assets.<\/p>\n
Co-founded by Juntao Zhu and Simon Lee in 2019, Hodlnaut provided crypto interest-earning services of up to 7.25 percent in APY. At its closure, the company indicated that it held approximately $250 million for its over 10k customers. The company advertised weekly payouts and instantaneous withdrawals, which attracted unsuspecting customers.\u00a0<\/p>\n
With the $45 billion Terra Luna collapse pending to be solved and unlikely to get closure soon, the Hodlnaut creditors have lost hope of ever getting compensated by the Do Kwon team. As such, the Hodlnaut creditors seek to liquidate the existing assets and absorb the remaining losses.<\/p>\n