Hodlnaut, a Singapore-based crypto lender, has been dealt another setback on its road to recovery after it was revealed that it held $18 million in crypto on FTX, the crypto exchange that halted withdrawals earlier this week. According to a report published on October 28 by Hodlnaut’s interim judicial managers, Hodlnaut consolidated over 95% of its assets on centralised exchanges, with $18.1 million held on FTX including bitcoin (BTC), ether (ETH), and stablecoins. Customers of FTX are currently unable to withdraw funds from the exchange due to a liquidity crisis caused by a CoinDesk report exposing the vulnerable financial situation of Alameda Research, FTX’s sister company.
