Algorand Foundation has $35 Million Exposure to Embattled Lending Firm Hodlnaut
According to the release, the funds were surplus to Algorand’s “day-to-day requirements and represent less than 3% of the Foundation’s assets, and we do not anticipate operational or liquidity issues due to this action.”
Algorand, as part of its mission, usually invests a part of its excess treasury capital to generate yield and the funds exposed to Hodlnaut were used for that purpose.
The foundation is in pursuant of all legal solutions to maximize the recovery of its assets and will not stop to do so.
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