Hodlnaut Layoffs
August 2022
Hodlnaut announced a layoff affecting 40 employees (80% of its workforce) in August 2022. The company operates in the Crypto sector.
40
80%
Aug 19, 2022
About
Singaporean cryptocurrency lender Hodlnaut laid off 40 employees, representing 80% of its staff, in a drastic cost-cutting move amid severe financial and legal troubles. The firm, which froze user withdrawals in early August 2022, cited liquidity stabilization needs and losses from the terraUSD stablecoin collapse in May. Concurrently, it is engaged in police proceedings with Singaporean authorities and is seeking court protection from creditors, highlighting the broader crisis affecting crypto lenders like Celsius and Voyager during the market downturn.
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