What Happens If Hodlnaut Gets Liquidated? Crypto Lender Lays Off 80% Staff

What Happens If Hodlnaut Gets Liquidated? Crypto Lender Lays Off 80% Staff

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What Happens If Hodlnaut Gets Liquidated? Crypto Lender Lays Off 80% Staff

CoinGape2 months ago
Published on August 19, 2022 13:14 GMT+00:00edited on August 20, 2022 12:59 GMT+00:00

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This Top Crypto Records Rising Whale Activity And Optimism

A few days ago, crypto lender Hodlnaut halted withdrawals and subsequently announced it will be going under judicial management in Singapore to prevent liquidation; it has now taken further steps to stabilize liquidity and also laid off 40 members of its staff.

TerraUSD crash is the reason for our current situation – Hodlnaut

Hodlnaut in its most recent statement confirmed that its current woes stem from losses incurred by its Hong Kong subsidiary during the TerraUST crash. The company is seemingly doing all it can to not have to liquidate its assets, which includes BTC and ETH, at ‘today’s depressed price’

It has also said that the Singapore Attorney-General / Singapore Police Force are already involved but did not give details, Hodlnaut however assured users that …