Singaporean cryptocurrency lending firm Hodlnaut has obtained judicial management support, thereby protecting itself from any new lawsuits.
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According to the official statement, the firm will now be managed by Angela Ee and Aaron Loh of EY Corporate Advisors Pte. No other details were given. It is also unclear for how long new interim managers will lead Hodlnaut.
In early August, Hodlnaut suspended withdrawals, deposits, and swaps to focus on "stabilizing liquidity" amid a restructuring process. The firm had also withdrawn its license application from the Monetary Authority of Singapore (MAS) for crypto payment services.
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