Babel Finance
Late last month, crypto lender Babel Finance was forced to temporarily suspend withdrawals. In an announcement, the Hong Kong-based company said rapid fluctuations in cryptocurrency values presented them with “unusual liquidity pressures.” Around three days later, Reuters reported Babel had successfully reached an agreement with counterparties to repay some of its debts after carrying out an emergency assessment of its business.
“Babel Finance will actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks,” the company said.
