Algorand Foundation Declares $35M Exposure to Troubled Crypto Lender Hodlnaut

Singapore-based Hodlnaut was one of several crypto companies that succumbed to the pressures of the downturn. It applied to be put under judicial management on Aug. 13, five days after it froze withdrawals. Judicial management is a form of debt restructuring that sees an entity manage the business, property and assets of a distressed company. During the process the company is protected from legal proceedings from third parties.