Title 1

Babel Finance temporarily suspended the withdrawals and redemption of crypto assets on Friday

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Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemption of crypto assets on Friday,

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the crypto lender scrambles to pay its clients after the recent slump in the digital currency market.

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Cryptocurrency valuations have plunged in recent weeks as investors dump risky assets in a rising rate environment

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the crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events

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Crypto lenders gather crypto deposits from retail customers and re-invest them, proclaiming double-digit returns and attracting tens of billions of dollars in assets.

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Due to the current situation, Babel Finance is facing unusual liquidity pressures

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However, the recent meltdown has lenders unable to redeem their clients’ assets.

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Title 1

Babel Finance suspends withdrawals as crypto markets slump

Babel Finance temporarily suspended the withdrawals and redemption of crypto assets on Friday

Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemption of crypto assets on Friday,

Title 1

the crypto lender scrambles to pay its clients after the recent slump in the digital currency market.

Cryptocurrency valuations have plunged in recent weeks as investors dump risky assets in a rising rate environment

the crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events

Crypto lenders gather crypto deposits from retail customers and re-invest them, proclaiming double-digit returns and attracting tens of billions of dollars in assets.

Due to the current situation, Babel Finance is facing unusual liquidity pressures

However, the recent meltdown has lenders unable to redeem their clients’ assets.

click here