Cryptocurrency lender Hodlnaut has announced to freeze withdrawals, token swaps and deposits amid the harsh crypto winter.
The company has also informed the Monetary Authority of Singapore (MAS) to withdraw its licence application, no longer providing regulated digital payment token (DPT) services or token swaps.
"To all users, we regret to inform you that we will be halting withdrawals, token swaps and deposits with immediate effect. We have reached this difficult decision due to recent market conditions," the company said in a statement.
"For the avoidance of doubt, Hodlnaut will also cease all borrowing and lending services," it added.
Hodlnaut has over $500 million in assets under management, according to Crunchbase data.
The company said it was "actively working" on the recovery plan.
"Our next update will be on Friday, 19 August 2022," it informed.
The crash of Terra USD in May triggered a ripple effect in the global crypto market and since then, crypto hedge funds like Three...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...