Crypto lender Hodlnaut suspends withdrawals, citing market conditions
livemint.comHodlnaut, a Singapore-based crypto lender, Monday said it has suspended withdrawals, swaps and deposits with immediate effect making it the latest digital-assets company affected by a series of defaults faced by the crypto industry.
In a statement, Hodlnaut said the company was “halting withdrawals, token swaps and deposits with immediate effect" due to “recent market conditions". The company will "focus on stabilising liquidity and preserving assets", it Hodlnaut added.
Hodlnaut said it has also withdrawn its license application with Singapore’s central bank.
Hodlnaut said the firm is actively working on the recovery plan and it hopes to provide updates and details on as soon as permissible.
Hodlnaut, launched in 2019, allowed investors to earn interest on their crypto by lending out their tokens. It is one of several cryptocurrency lenders to have suffered from the recent rout in digital asset prices which has wiped around $2 trillion from the sector.
Read more on livemint.com
![Uniswap [UNI] holders can think twice before going long because…](https://gocryptonft.com/storage/thumbs_400/img/2022/8/12/59650_xjb.jpg)
