RABIT Weekly News (W4 August 2022)

Cryptocurrency lending platform Hodlnaut filed an application for judicial management with the Singapore High Court on August 13th. The Terra crisis incurred a $190 million loss to the company, and the application was filed five days after the company froze withdrawals. Hodlnaut will be protected from the creditors and from any legal claims, and Hodlnaut plans to devise a recovery plan while it’s been put under judicial management.
According to a study by crypto intelligence platform Blockdata, the US tech giant Alphabet was found to be the most active in blockchain investment among 100 top publicly-traded companies. Sundar Pichai, the boss of Alphabet, also confirmed earlier this year that they are currently investigating how to apply blockchain technology to their services like YouTube and Google Maps.
The European Central Bank (ECB) once again assured its support for central bank digital currencies (CBDC) in its latest Working Paper Series. Researchers in ECB said CBDCs are the only solution among all other alternatives to smoothly continue the monetary system in the era of digitization.