According to the latest report, the interim judicial managers of beleaguered crypto lender Hodlnaut have rejected the latest acquisition bid proposed by OPNX. The OPNX exchange, affiliated with the founders of collapsed hedge fund Three Arrows Capital (3AC), offered to buy a significant 75% ownership stake in troubled Hodlnaut in August 2023.
Holdnaut, a Singapore-based crypto lender, was another of the numerous victims of the financial crisis that rocked the crypto space in 2022. The crypto company had to halt withdrawals after losing around $190 million to the Terra ecosystem’s crash.
Hodlnaut Says $30 Million Offer Has “Speculative Value”
According to a recent court filing reviewed by Bloomberg, Hodlnaut administrators have opted out of the acquisition deal of the crypto lending firm, arguing that the