Hodlnaut, a crypto lending firm, said it had no exposure to Sanjian’s capital and would not stop pulling out despite the cash outflow

June 25, 2022 11:36 a.m. (GMT+8)
EqualOcean

[hodlnaut, a crypto lending company, said that it had no exposure to Sanjian capital and would not stop withdrawing despite capital outflow] on June 24, zhujuntao, founder of hodlnaut, a crypto credit company from Singapore, tweeted that the hodlnaut platform had withdrawn $150 million in the past two weeks. Calculated at the current market price, the net outflow is equivalent to 35% of the asset management scale. More than 90% of withdrawals come from retail investors. The asset management scale ratio between enterprise users and retail investors is approximately 4:6. Despite the outflow of funds, Hodlnaut won’t stop withdrawals and hopes the industry can do the same. In addition, zhujuntao also leaked the conversation records with sanjian capital, saying that when talking about cooperation with sanjian capital, hodlnaut asked them to provide mortgages and provide financial statements, but they don’t. have never done so, so hodlnaut had no exposure to the capital of Sanjian. Zhujuntao believes that the line of credit should be greatly reduced and no one will provide short-term unsecured loans.

Troy M. Hoffman