Summary: The Algorand Foundation confirmed its exposure to crypto lender Hodlnaut. Hodlnaut paused withdrawals and deposits in August citing liquidity constraints. Sources pegged the foundation’s exposure at around $35 million in Circle’s USD Coin (USDC). The funds were initially invested to generate passive yield to bolster Algorand’s ecosystem and development. At press time, the exposure to Hodlnaut does not pose a threat to the foundation’s operations. Algorand Foundation, a non-profit organization set up to support and drive growth within Algorand’s […]
