Algorand Foundation: Holds an exposure of 35 million USDC in the crypto lending company Hodlnaut

According to The Block, the Algorand Foundation stated that it has an exposure of $35 million USDC to Hodlnaut, a troubled cryptocurrency lending company that halted customer withdrawals last month.

Algorand stated that this amount accounts for less than 3% of the Algorand Foundation's assets, but it does not expect any operational or liquidity issues. The Algorand Foundation mentioned that it is seeking all legal remedies to maximize asset recovery from Hodlnaut. (Source link)