Crypto lender Hodlnaut suspends withdrawals

Singapore-based crypto lender Hodlnaut, has suspended withdrawals, swaps and deposits.

Hodlnaut is also withdrawing its application for a licence from the Monetary Authority of Singapore (MAS) to provide digital token payment services.

Hodlnaut cited “recent market conditions” and will “focus on stabilising our liquidity and preserving assets”.

The company is the latest in a string of crypto players globally to run into difficulties.

The collapse of two paired tokens, Luna and TerraUSD had triggered the crypto market catastrophe.

Other high profile failures include U.S. crypto lender Celsius, and Singapore-based fund Three Arrows Capital, both of which filed for bankruptcy last month. read more

Hodlnaut was named as one of Celsius’ institutional clients, according to court filings.

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