At the start of 2022, crypto firm Hodlnaut had the approval of the Monetary Authority of Singapore and close to US$1 billion in assets under management.

Today, the Singapore-based company has halted its operations, faces lawsuits over allegations of dishonesty, and is being probed by the city-state’s police force.

On this episode of Deep Dive, Tech in Asia journalist Scott Shuey discusses how the collapse of other crypto firms sparked Hodlnaut’s downfall, the alleged mismanagement and lies that exacerbated the situation, and what’s in store for the company’s future.

Featured reporter:

• Scott Shuey, a Tech in Asia journalist based in Kuala Lumpur

Essential reading:

• Hodlnaut may have had $187m exposure to Terra collapse
• UST, lies, and Hodlnaut: How a rising star fell back to earth
• Hodlnaut can’t pay salaries, benefits for dismissed employees
• Hodlnaut accuses EY staff of dishonesty; EY fires back
• Hodlnaut founders hid financial documents, new Singapore court report says
• Hodlnaut assets hit by FTX debacle

For more stories on Hodlnaut, click here.