Algorand Revealed Investments Worth $35M In Troubled Crypto Lender Hodlnaut

The Algorand Foundation has disclosed that it has invested $35 million in USD coin (USDC) in the beleaguered crypto lender Hodlnaut. The cryptocurrency lending firm had paused its withdrawals earlier last month.Algorand is a blockchain infrastructure which has embedded smart contract functionality.

Timeline of Algorand

Algorand Foundation announced a $35 million USDC blow after Hodlnaut, a crypto lender based in Singapore, suspended all withdrawal transactions from the platform on August 8th, 2022.

The Algorand Foundation is in the news today after it informed its community about the exposure it had to Singapore-based crypto-lender Hodlnaut. The latter is currently facing a liquidity crisis.

Algorand Foundation has announced that it has a $35 million USDC exposure in troubled Singapore-based lender Holdnaut. The post Algorand Foundation Discloses $35M Exposure in Hodlnaut appeared first on BeInCrypto.

The Algorand Foundation has $35 million exposure in USDC to Hodlnaut. The post Algorand Foundation has $35 million exposure to troubled crypto lender Hodlnaut appeared first on The Block.

Algorand (ALGO) has always been lauded for its imagination and innovation. Algorand's mainnet update can process as much as 6,000 TPS ALGO beats BTC and ETH when it comes to speedy transactions ALGO price is now up by 6.88% following the announcement of mainnet update And it's now stepping up the game.

Algorand has undergone an upgrade which places its Layer 1 protocol as one of the fastest in crypto. Proof of stake network Algorand's upgrade involved making changes in the network's mainnet transaction capacity.

Algorand's [ALGO] mission to leave other blockchain networks behind while processing decentralized and traditional transactions faster has reached another level. In its latest release which a large part of its community considered impressive, Algorand announced that there has been a major upgrade to its mainnet.

The Algorand blockchain has released a significant upgrade to the network with improved performance and security to enable faster transactions.  According to the announcement, the new upgrade dubbed Algorand 3.9 features state proofs designed to facilitate trustless interoperability between blockchains, making it easy for developers to build cross-chain products, including direct bridges, thereby reducing the workload for existing bridging protocols.

The latest release of the Algorand (ALGO) protocol (Algorand 3.9) comes with several improvements that offer users and developers increased speed and performance. The team claims Algorand 3.9.

Algorand (ALGO), a pure proof-of-stake (PoS) blockchain has tremendously improved its network performance and introduced more cross-chain functionality following a significant upgrade.