Crypto New Casualty – Hodlnaut Sacks 80% Of Personnel Due To Liquidity Crisis
Troubled Crypto lender Hodlnaut has laid off 80% of its employees and filed for judicial intervention in Singapore in a bid to decrease costs and stay afloat. On Friday, Hodlnaut, which offers cryptocurrency investment options in approved institutions with interest, disclosed liquidity issues. Hodlnaut confirmed that it ended the employment of approximately 40 individuals “to cut corporate […]
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Hodlnaut stopped offering exchange services on its platform on Monday, citing liquidity crisis and the need to discuss a recovery strategy with a legal advisory firm as the industry battles to survive in the wake of a collapse in the price of cryptocurrencies. Hodlnaut Latest To Halt Withdrawals Hodlnaut, a Singapore-based lending platform for crypto […]
Singapore-based crypto lender Hodlnaut is on the verge of liquidation, according to court filings on November 10. The company, which also operates in Hong Kong, had previously halted withdrawals and sought protection from creditors. However, efforts to save the lender were unsuccessful, leading to the decision to liquidate the company. Hodlnaut Liquidators To Consolidate Creditor […]
Hodlnaut froze withdrawals and all other services on its platform on Aug. 8, citing a liquidity crisis and turbulent market conditions. Singapore-based crypto lending firm Hodlnaut was placed under interim judicial management, a form of creditor protection program, by the Singapore court on Aug. 29.The court orders came three weeks after Hodlnaut froze all trading activities and withdrawals on its platform citing a liquidity crisis. In an official blog post on Aug. 30, the crypto lending platform notified its users that Ee Meng Yen Angela and Aaron Loh Cheng Lee, care of EY Corporate....
Hodlnaut avoided 3AC exposure and earlier denied ever buying UST, but several reports and on-chain data have shown that the lending firm at one point owned over $150M worth of UST. Singapore-based crypto lending platform Hodlnaut has become the latest firm to suspend withdrawals, and deposits blaming market conditions and lack of liquidity.The crypto lending firm made an official announcement on Aug. 8, claiming that market conditions have forced it to suspend its services and that it is actively working on recovery plans. Dear users, we regret to inform you that we will be halting....
On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra whistleblower called Fatman warned people about Hodlnaut’s alleged issues.
Another Crypto Platform Freezes Operations Citing Recent Market Conditions
Another crypto exchange and lending platform, called Hodlnaut,....