Thursday, March 30, 2023
HomeCrypto MiningHoldnaut co-founders choose to promote bankrupt crypto lender

Holdnaut co-founders choose to promote bankrupt crypto lender

Simon Lee and Zhu Juntao, co-founders of bankrupt crypto lender Hodlnaut have reportedly submitted a proposal to promote their enterprise as an alternative of liquidating its belongings.

Holdnaut filed for chapter safety again in August, after dropping roughly $190 to the Terra-Luna collapse. An interim judicial supervisor was appointed to handle its affairs and determine how finest to compensate buyers.

Hodlnaut’s interim supervisor had earlier proposed a restructuring plan that might pool collectively the corporate’s belongings and difficulty a brand new token to collectors.

In response, a bunch of Hodlnaut collectors rejected the restructuring plan stating that their curiosity will probably be finest served if the corporate is liquidated.

Hodlnaut co-founders Simon Lee and Zhu Juntao have submitted an affidavit to the court docket in search of to promote the enterprise as an alternative of liquidating its belongings, Bloomberg stories on March 1.

Lee mentioned that promoting the crypto lender will assist maximize worth for its collectors and improve the consumer base of its buyers.

“Hodlnaut consumer base might be acquired and on-boarded on digital-asset platforms owned or affiliated to such buyers,” Lee added.

Lee and Juntao are reportedly in talks with potential buyers to finalize the main points of promoting the bankrupt crypto lender.



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