Hodlnaut Refuses OPNX’s $30 Million Offer After FLEX Token Declines By 90%
The interim judicial managers of beleaguered crypto lender Hodlnaut have rejected the latest acquisition bid proposed by OPNX....
- Hodlnaut, a Singapore-based crypto lender, has rejected a $30 million acquisition bid from OPNX.
- The administrators of Hodlnaut cited concerns about the illiquidity and speculative value of the offered FLEX tokens.
- Most of Hodlnaut's creditors supported the decision to reject the bid.
- The administrators also raised questions about the lack of cash injection, repayment timeline, and payment details in the offer.
- The involvement of Three Arrows Capital founders in OPNX's bid has raised concerns, as they are facing legal troubles and a ban from the Monetary Authority of Singapore.
The sentiment of the article is negative overall, as it highlights the troubles faced by Hodlnaut, the concerns raised by its administrators, and the legal issues surrounding OPNX and Three Arrows Capital.