{"id":73652,"date":"2023-02-06T15:11:19","date_gmt":"2023-02-06T13:11:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73652"},"modified":"2025-09-09T15:24:07","modified_gmt":"2025-09-09T12:24:07","slug":"bloomberg-reports-possible-sale-of-hodlnaut-and-its-claims-against-ftx","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-reports-possible-sale-of-hodlnaut-and-its-claims-against-ftx\/","title":{"rendered":"Bloomberg reports possible sale of Hodlnaut and its claims against FTX"},"content":{"rendered":"<p>The administrators are in the process of signing non-disclosure agreements with several potential buyers of the Hodlnaut crypto-lending platform. This, according to<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-06\/potential-buyers-circle-ailing-singapore-crypto-firm-hodlnaut-and-its-ftx-claims\"> Bloomberg<\/a>.<\/p>\n<p>Counterparties have also shown interest in the firm\u2019s claims against<a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\"> the bankrupt exchange FTX<\/a>.<\/p>\n<p>As of December 9, Hodlnaut Group owed a total of $160.3 million (62% of the outstanding debt)<a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-owes-algorand-foundation-35-million-foundation-says\"> Algorand Foundation<\/a>, Samtrade Custodian, S.A.M. Fintech and Jean-Marc Tremo, according to the documents.<\/p>\n<p>The company\u2019s FTX accounts <a href=\"https:\/\/www.techinasia.com\/ftx-fiasco-adds-hodlnaut-woes\">were listed<\/a> 514 BTC, 1,395 ETH, 280,348 USDC and 1,001 FTT. About 72% of the 18.4 million <span data-descr=\"Singapore dollar\" class=\"old_tooltip\">SGD<\/span> ($14 million) in equivalent that Hodlnaut had placed on centralized platforms was on the exchange.<\/p>\n<p>On August 8, 2022, the Singapore-based crypto company <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-crypto-lending-platform-halts-withdrawals\">suspended withdrawals<\/a>, swaps and token deposits. Hodlnaut immediately sought court protection from creditors<a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-seeks-court-protection-in-singapore-from-creditors\">.<\/p>\n<p>The platform also<a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-lays-off-80-of-staff-to-trim-costs\"> laid off 80% of its staff<\/a> in order to cut costs.<\/p>\n<p>The company acknowledged a capital deficit of $193 million<a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-reports-a-193-million-hole-in-its-balance-sheet\">. Of this amount<a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-losses-from-terra-collapse-estimated-at-190-million\"> almost $190 million<\/a> was linked to losses suffered by the platform as a result of<a href=\"https:\/\/forklog.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\"> the Terra ecosystem collapse<\/a>.<\/p>\n<p>In November, the Singapore police<a href=\"https:\/\/forklog.com\/en\/news\/singapore-police-open-investigation-into-hodlnaut\"> opened an investigation<\/a> into the company and its management in connection with suspicions of fraud and deception.<\/p>\n<p>Earlier in January, Hodlnaut said that there was a <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-creditors-rejected-restructuring-plan\">possibility of liquidation<\/a> after creditors rejected the proposed restructuring plan.<strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Administrators are in the process of signing non-disclosure agreements with several potential buyers of Hodlnaut, the crypto-lending platform. Bloomberg reports this.<\/p>\n","protected":false},"author":1,"featured_media":73653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1162,2324],"class_list":["post-73652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-court-cases","tag-hodlnaut"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73652"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73652\/revisions"}],"predecessor-version":[{"id":73654,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73652\/revisions\/73654"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73653"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}