The judicial managers are in the process of signing non-disclosure agreements with the potential investors, the document shows. The affidavit indicates that as of Dec 9 Hodlnaut Group owed a combined US$160.3 million ($212.1 million), or 62% of outstanding debt, to Algorand Foundation, Samtrade Custodian, S.A.M. Fintech and Jean-Marc Tremeaux.
Hodlnaut didn’t immediately reply to a request for comment.
Hodlnaut, which also has operations in Hong Kong, halted withdrawals in August amid last year’s crypto rout — one of many lenders to hit the buffers. FTX accounted for about 72% of the digital assets the platform deployed on centralized exchanges, with an estimated market value of $18.5 million, according to a November filing.
Last month, key Hodlnaut creditors rejected a proposed restructuring plan and said they preferred to liquidate the company.
