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Borderless Capital, the Algorand-focused venture firm and Helium investor pushed for Helium to reconsider its prospective new home.

The ongoing bear market in the cryptocurrency market that started earlier this year has led to many companies suffering immense losses. One of the recent firms to announce losses because of the bear market is Algorand, which has reported a loss of $35 million following the Hodlnaut debacle.

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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 effect of the bear market rally isn't completely over. While some major players are recovering steadily, some are still left in ruins of unprecedented price decreases, typical of a bear rally.

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.

The $35 million hole in the form of the stablecoin USDC is claimed to be less than 3% of the Algorand Foundation's assets.

The last few months have been a long and trying trip for crypto investors. This may go down as the worst crypto winter in history.

Coinspeaker Algorand Foundation Reveals $35M Exposure to Embattled Crypto Lender Hodlnaut, Commits to Maximally Recovering Its Assets

Hodlnaut was placed under Interim Judicial Management after suspending withdrawals from its platform in August.

The losses at Algorand relate in part to exposure to Hodlnaut. The firm said it is pursuing a legal approach to recover such losses from Hodlnaut.

The losses at Algorand relate in part to exposure to Hodlnaut. The firm said it is pursuing a legal approach to recover such losses from Hodlnaut.

The Foundation stated that it is “pursuing all legal remedies to maximize asset recovery.”

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 confirmed its exposure to crypto lender Hodlnaut.

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.

The acceptance of cryptocurrencies has increased over time. Many investors have benefited from their choice to invest in certain projects.

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.

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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.