The Hodlnaut saga continues with new claims of malfeasance

Check out our top articles for the week. [Read from your browser]( Top Stories of The Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} It’s been several months since we wrote our [original investigative piece]( on Hodlnaut’s exposure to the collapse of the [UST stablecoin](. At the time, it was a very critical story because the crypto lender was denying any exposure or losses. Hodlnaut reacted to our stories in a way all too common today: They blocked me on Twitter and Telegram. Whatcha gonna do? That hasn’t stopped us from [covering]( Hodlnaut’s trip through its court-governed restructuring. But last week’s release of court papers really went beyond the norm. In such a well-publicized debacle, it’s not surprising that Hodlnaut’s founders and the interim judicial management have engaged in finger-pointing. What’s surprising is what was claimed in signed affidavits to the court, including: conflicts of interest, “petty” behavior by government officials, and a very pointed accusation that Hodlnaut founder Simon Lee is engaging in a game of [CYA](. Even as we write this, new information is being released, including [a report]( that lists all of Hodlnaut’s financials. We’ll keep you updated. -- [Scott Shuey]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Hodlnaut accuses EY staff of dishonesty; EY fires back]( Hodlnaut founder Simon Lee has accused EY, which is handling the lender’s debt restructuring, of misbehavior. EY claims Lee is trying to avoid liability. 2. [Twists and turns in Penang’s tech ambitions]( The state is known for its robust electrical and electronics sector but has trailed Kuala Lumpur in digital and tech investments. 3. [The challenge and hidden potential of Vietnam’s agritech sector]( Agritech firms in the country face an uphill task to digitalize a fragmented industry. 4. [How credit analysis can help Tokopedia score against ecommerce rivals]( Tokoscore has the potential to increase the loan books and reduce non-repayments for not just its parent firm GoTo but also for third parties. 5. [Axie Infinity is older, wiser, and relishing its underdog status again]( No one represents the failures of GameFi better than Axie Infinity, which is why it’s determined to become known for blockchain gaming instead. 6. [Learn how to create an equity framework in 10 minutes]( Establishing your startup's equity framework and setting the value of your equity is not as simple as dividing a pie. Andy Lee, co-founder and CEO of Sprout, shows us how. 7. [Capital SEA: Southeast Asia’s funding landscape (updated Oct 26, 2022)]( Who are the new active investors on the block? Which funding rounds look like outliers? This visual story answers all this and more. 8. [Can Love Bonito triumph over a D2C model under threat?]( The Singapore-based womenswear brand is building a female ecosystem beyond fashion as it works toward an IPO in the US. 9. [Indian D2C footwear brand Yoho used this deck to close its $2.4m round]( Investors in Yoho's pre-series A include SoftBank Vision Fund CEO Rajeev Mishra, Paytm founder Vijay Shekhar Sharma, and Rukam Capital. 10. [Neuron Mobility’s revenue doubles, but losses widen]( The e-scooter firm exited South Korea in less than a year to focus on markets with high barriers to entry and low competition. --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. 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