Babel Finance Stops Withdrawals Due to Decline in Crypto Markets
Babel Finance is a Hong Kong based company that does not want its customers to opt out of crypto first.
A record high of $69,000 in November is now down to half its price
Babel has 500 customers and holds itself to a limit of bitcoin, ethereum and stablecoins.
The company owed more than $3 billion and had an average monthly trading volume of $800 million in derivatives.
Celsius is cited as having a customer base of 1.7 million users.
Cumulative global cryptocurrency market capitalization falls from $1.3 trillion to $937 billion in one week
Average monthly trading volume in derivatives was $800 million
Bitcoins have created a distinct identity in the new cryptocurrency, years back crypto was at its peak.
Bitcoin drops below $20,000, another record