Hi all, today is 8th August 2022, one day before our National day on 9th August 2022. Putting aside the celebrations, a Singapore-based platform that individuals can earn interest on their cryptocurrencies, Hodlnaut had halted withdrawals, token swaps and deposits immediately. They also previously had an in-principle approval (IPA) letter for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act) which now has been withdrawn.
Amid news of various CeFi halting withdrawals and filing for bankruptcy or liquidated eg. Celsius, Voyager, BlockFi and many more, Hodlnaut has today announced that they are halting withdrawals, token swaps and deposits with immediate effect. I did write about Hodlnaut in mid 2021, wow, it’s only a year back but it feels like a long time as news and movement in cryptocurrencies are so fast and rapid. I have seen several...