Crypto currency lender Hodlnaut seeks to restructure under judicial management

The crypto company, which last week suspended withdrawals, swaps and deposits, said it filed the petition with the Singapore High Court. Hodlnaut is the latest to feel the heat of a sharp selloff in crypto assets that started in May with the collapse of two paired tokens, Luna and TerraUSD.


Reuters | Singapore | Updated: 16-08-2022 12:33 IST | Created: 16-08-2022 12:26 IST
Crypto currency lender Hodlnaut seeks to restructure under judicial management
Representative Image Image Credit: ANI
  • Country:
  • Singapore

Hodlnaut, a Singapore-based cryptocurrency lender and borrower, said on Tuesday it filed an application to be placed under judicial management as it looks to restructure its business. The crypto company, which last week suspended withdrawals, swaps, and deposits, said it filed the petition with the Singapore High Court.

Hodlnaut is the latest to feel the heat of a sharp selloff in crypto assets that started in May with the collapse of two paired tokens, Luna and TerraUSD. Singapore, a major center for crypto and blockchain in Asia, has been shaken since the July collapse of cryptocurrency hedge fund Three Arrows Capital.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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