• Hodlnaut, a Singapore-based crypto firm has been in negotiations with potential buyers to liquidate their assets.
• The company held over $18 million worth of digital assets on centralized exchanges such as FTX, Deribit, Binance, OKX and Tokenize.
• Creditors have rejected the bid for restructuring and reopening the company and are seeking immediate liquidation.
Hodlnaut’s Bid for Survival
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’s crypto assets including claims against the collapsed crypto exchange FTX.
Selling Firm & FTX Claims
Various parties who are interested in acquiring Singapore-based Hodlnaut’s crypto platform and FTX claims have contacted the interim judicial managers overseeing the company after it sought protection from creditors,“ an affidavit seen by Bloomberg noted.Reportedly, Hodlnaut’s FTX accounts held 514 Bitcoin, 1,395 Ether, 280,348 USD Coin 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.
Demise of Hodlnaut
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