Algorand Foundation reveals $35 million Hodlnaut exposure

According to the Algorand Foundation, Your $35M exposure is less than 3% of your assets and exceeds daily requirements. Therefore, you are not likely to be affected or suffer from liquidity issues.

He further explained his reasons for putting money into Hodlnaut, saying that as part of his mission, The enterprise “invests a part From our surplus treasury capital to generate returns for the purpose of developing the Algorand ecosystem, this money has been invested for that purpose.”

He said that most of the investments were short-term frozen deposits, Withdrawals suspended by Holdnaut Make those investments inaccessible.

in the meantime, The Foundation stated that it is seeking by all legal means to recover its money. Part of these efforts resulted in the appointment of Algorand Foundation nominees as temporary recipients to “identify, preserve and protect Hodlnaut’s assets until further investigation begins.” Procedures Judicial”.

Algorand is exposed to the capital of the three stocks

Algorand Foundation It is also vulnerable to the failure of the crypto hedge fund Three Arrows Capital. According to court documents, the institution was involved in a one-time off-exchange deal with the hedge fund, but 3AC violated the terms of the block.

Hodlnaut was one exchanges affected by the fall Earth’s moon This prompted it to suspend withdrawals on August 8.

Court records show that Hodlnaut had approximately $317 million in cash Earth USD (UST) before the accident It lost $189.7 million. The company is now under temporary judicial administration.

Algorand Update Network

AlgorandNetwork Recently completed an update Which greatly increased the capacity of the network. The update also added health tests to the network.

According to their official announcement, State proofs make cross-chain connections and transfers possible Without the need for a bridge or validation networks. This can eliminate current interoperability challenges blockchain.

network that Proud to be the only one blockchain carbon emissionsis also the official partner of blockchain from FIFA and feed icons Not consumable (NFT) that the football governing body is planning to launch it.

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