FLEX plunges 10% as Hodlnaut opposes OPNX’s $30m offer
Hodlnaut’s interim judicial managers call FLEX token “illiquid” as its price crashed 90% since August 2023. Crypto bankruptcy claims exchange OPNX is unlikely to become the new owner of the embattled crypto lending firm Hodlnaut as its interim judicial managers rejected the takeover terms. According to a report by Bloomberg, Hodlnaut’s managers clarified that the $30 million offer in FLEX tokens will not happen as the exchange’s token is “illiquid” and with “speculative value.” Moreover, court filings show that most of Hodlnaut’s creditors also oppose the OPNX deal. You might also like: Dubai crypto regulator sends reprimand letter to OPNX founders The interim judicial managers added that OPNX’s offer includes no cash or “assets with similar liquidity” and no timetable for repayment. They say that there are no details on how exactly and when the exchange plans to pay beyond 30% of liabilities. ...