Hodlnaut Held S$18.47m Digital Assets W/ FTX; Recovery Uncertain

About 71.76% of digital assets deployed by Hodlnaut on centralized exchanges were held with FTX, with an estimated market value of S$18.47m, its interim judicial managers said in an update.

• Extent of recovery of the digital assets is currently uncertain
• ~25% of company’s assets were deployed on centralized exchanges
  • IJMs maintained status quo in respect of digital assets deployed on centralized exchanges after their appointment
• NOTE: Crypto Lender Hodlnaut Lost Nearly $190 Million in TerraUSD Drop

To contact the reporter on this story:
Aradhana Aravindan in Singapore at aaravindan3@bloomberg.net

To contact the editors responsible for this story:
Michael Sin ...