- it said that prior to EY's appointment, about 25 per cent of Hodlnaut's assets were deployed on centralised exchanges.
About 71.8 per cent of these digital assets deployed by Hodlnaut on centralised exchanges were held with FTX, with an estimated market value of S$18.47 million. Before the announcement of FTX's collapse, the interim judicial managers attempted to withdraw the assets from FTX but it could not be processed. When EY contacted FTX several times to escalate the matter, no responsed was received except for an automated reply.. It said it would withdraw its application for a licence from the Monetary Authority of Singapore to provide digital token payment services, for which it received in principle approval in March.
....why I'm not surprised now...
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