Hodlnaut was among the platforms hit by the 2022 crypto bust.
Hodlnaut, a cryptocurrency lender, downplayed its exposure to the destroyed digital token ecosystem while suffering a loss of over $190 million.
The firm downplayed the extent of the group’s impact on TerraUSD
Luna and the algorithmic stablecoin TerraUSD experienced a $60 billion crash in May. When it sold the stablecoin, Hodlnaut’s Hong Kong division experienced a loss of around $190 million.
In August, Hodlnaut, which has operations in Singapore and Hong Kong, suspended withdrawals as crypto platforms all over the world had difficulties as the value of digital assets fell under the Fed’s monetary tightening, which halted speculative enthusiasm.