Home Latest News Cryptocurrency Lender Babel Follows Celsius in Withdrawal Freeze – Bloomberg

Cryptocurrency Lender Babel Follows Celsius in Withdrawal Freeze – Bloomberg

Ads

Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
Ashlee Vance explores innovations in new tech, software, engineering, and science in places outside of Silicon Valley.
Wartime Harvest Starts in Ukraine But Silos Are Already Stuffed
Once-Hot Stock Offering Market Buckles Under Recession Risk
Apple Store Workers in Maryland Become First in US to Unionize
Aerojet CEO’s Board Candidates Backed by ISS in Proxy Fight
EU Drafting Legislation to Prepare for ‘Doomsday’ Protocol Legislation
‘Time to Complete Brexit’ in Wake of Rwanda Flight Grounding: UK AG
America’s Top 1% Lose $1.5 Trillion on Stocks Before Bear Market
Gold Billionaire to Moonlight as DJ at Sold-Out Cairo Club
Zalatoris, Fitzpatrick Survive Beast of Open to Share Lead
Ledecky Reclaims 400 Title At Swimming Worlds, Eyeing More
AI’s Hold Over Humans Is Starting to Get Stronger
Putin May Win in Ukraine, But the Real War Is Just Starting
The Fed Hasn’t Fixed Its Worst Blunder Since the 1970s
Adults Who Love Toys? The Toy Industry Loves Them, Too
ESPN’s NHL Deal Shows Broadcasters a New Way to Profit From Sports Rights
America’s Convention Center Kings Want You Wearing Lanyards Again
‘Banking While Black’ Is the Next Target for Civil Rights Lawyer
NYC Mayor Adams Allocates $6.7 Million Toward LGBTQ Social Services
A Quarter of All Abortion Clinics Would Close in US If Roe Is Overturned
A Fund Designed to Recycle Shrink-Wrap Fails to Pay Out
War Derails Plan to Ditch Coal After UK Championed Global Cuts
The Museum Seeking to Unlock a War-Hit Nation’s Mineral Wealth
Rikers Jail Replacement Plan Pits Chinatown Against New York City
Without Commuters, US Transit Agencies Are Running Out of Options
DeFi Platform MakerDAO Pauses Some Aave-Related Lending Activity
Memories of Bitcoin-Beating Returns Keep Hex Holders Hanging On
Musk Signals ‘Maybe More Down the Road’ for Dogecoin After Merch

In a sign of deepening turmoil in the crypto community, Babel Finance became the second major digital-asset lender this week to freeze withdrawals, telling clients it is facing “unusual liquidity pressures” as it contends with recent market declines.
“The crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events,” the Asia-based lender and asset manager said in a notice on its website to explain the temporary measure. A spokesperson at Babel told Bloomberg that the team has faced “some pressure” and “are working on it.”

source

Ads
Previous articleElon Musk gives Dogecoin another life but DOGE is bent on triggering a 50% crash – FXStreet
Next articleHere's What Happened After SBF Offered to Buy a Solana Bear's SOL at $3 – Decrypt
He is currently Editor at Inferse.com. He is a political columnist for the Finger Lakes Times, Eiram.org, and is the co-founder of InFocus.co. His passions include politics, golf, the media, and gadgets.