The creditors of Singapore-based cryptocurrency lender Hodlnaut have again voiced their desire to liquidate the company, which has been under judicial management since August 2022.
There has been no sign of a “white knight investor” to provide fresh capital, interim judicial manager (IJM) Aaron Loh Cheng Lee explained in an updated circular.
The circular dated April 25 said users representing approximately 55.38% of creditors, with claims of 228.3 million Singapore dollars (about $170.5 million), were in favor of liquidation rather than restructuring.
Despite the founders’ attempts to find new investors, no new sources of capital had been discovered.
It reads:
“There appears to be no indication of a white knight investor to date, and hence no prospect of any fresh capital injection.”
