Cryptocurrency Lender Hodlanut Allegedly Found Potential Buyers
Popular cryptocurrency lending company Hodlnaut is reportedly negotiating the sale of its business and other assets with several potential investors in line.
Currently, Hodlnaut’s interim judicial managers are in the process of negotiating NDAs with potential investors.
An NDA (non-disclosure agreement) is a legally binding contract establishing a confidential relationship in which the parties agree that sensitive information they may obtain will not be disclosed to any other.
The troubled crypto lender owed around $160 million to companies and entities. Among that list are well-known names such as Algorand Foundation, Samtrade Custodian, S.A.M. Fintech, and Jean-Marc Tremeaux, as of 9 December 2022.
A Singapore court allowed Hodlanut to organize a restructure of its business after freezing withdrawals back in August 2022.
The company’s creditors reportedly demanded immediate liquidation and distribution of remaining assets among them in order to maximize the remaining value.
Hodlnaut wasn’t the only crypto lender that fell victim to the harsh crypto winter – industry giants such as Celsius Network, BlockFi, Genesis, Vauld also came across serious financial troubles, which led to bankruptcy.