Hodlnaut Engages Investors in Selling the Firm, Claims Against FTX

Hodlnaut is looking for investors to sell its business
Hodlnaut owed millions to Algorand Foundation, Samtrade Custodian, and S.A.M. Fintech
Hodlnaut claims against the defunct cryptocurrency exchange FTX

According to reports, the troubled Bitcoin lending company Hodlnaut is working with multiple possible investors to sell it’s business and other assets.

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Bloomberg reported on February 6 that a number of possible bidders have inquired about purchasing Hodlnaut and its claims against the defunct cryptocurrency exchange FTX.

Hodlnaut Group owed Algorand Foundation, Samtrade Custodian, S.A.M. Fintech, and Jean-Marc Tremeaux a combined sum of $160,3 million as of the 9th of December, or 62% of its entire outstanding debt.

After filing for protection from its creditors, Hodlnaut’s temporary judicial managers have received various offers to acquire its Singapore-based cryptocurrency startup. Based on an affidavit seen by Bloomberg news, the report states that the judicial managers are currently in the process of signing non-disclosure agreements with possible investors.

According to prior reports, Hodlnaut’s FTX accounts included 514 Bitcoin, 1395 Ether, 280,348 USD Coin, and 1,001 FTX (FTT) tokens. The corporation apparently held digital assets worth more than $18 million on controlled exchanges such as FTX, Deribit, Binance, OKX, and Tokenize.

In other news, Binance announced the launch of a tax calculator for cryptocurrencies. Binance Tax is a service that helps clients comprehend bitcoin tax legislation and comply with such obligations for up to a hundred thousand free trades.

Using this information, users can also generate a report detailing their financial activities on Binance, including a tax-specific analysis of their gains and losses. This report is ready to be distributed to the relevant authorities.

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José Gustavo

José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.