Illustration by Alex Castro / The Verge
Cryptocurrency lender Hodlnaut is the latest firm to respond to tumultuous market conditions by halting withdrawals (via Coindesk). In a post on its website, the Singapore-based company announced that it’s freezing withdrawals, token swaps, and deposits due to an uncertain economy that some say triggered a “crypto winter.”
Hodlnaut is also rescinding its application to the Monetary Authority of Singapore (MAS) for a regulatory license that would allow the company to offer digital payment token services in the city-state. As pointed out by Coindesk, the firm already received in-principle approval for the license in March, and its withdrawal means it can no longer offer token swaps. Hodlnaut says it’s also suspending its borrowing and...
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