According to a report from Bloomberg, the failed hedge fund Three Arrows Capital’s founders are seeking to take control over troubled crypto lender Holdnaut.Â
The bankrupt Holdnaut is currently overseen by a Singaporean court in its restructuring process. OPNX has offered to acquire Holdnaut with the deal owning 75% stake in it. It will be deploying $30 million of capital in FLEX tokens.
The funds brought in by these new owners will be used to pay off creditors of Holdnaut. The plan is to provide users with 30% of their claim and it all in FLEX tokens.
Holdnaut is a Singapore-based crypto platform which declared itself bankrupt in the crypto crisis followed by Terra Luna crash in 2022. It lost around $190 million of its customers’ crypto assets.
The founders of bankrupt hedge fund Three Arrows Capital, Zhu Su and Kyle Davies launched OPNX in partnership with crypto exchange CoinFlex’s founders.Â
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