“Babel Finance suspends withdrawals as crypto markets crash



ORIGINAL POST
Posted by Ed 53 days ago

Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemption of crypto assets on Friday, as the crypto lender scrambles to pay its clients after the recent slump in the digital currency market.

https://www.cnbc.com/2022/06/17/babel-finance-suspends-withdrawals-as-crypto-markets-slump.html


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COMMENTS
Ed 53 days ago

Founders of $10 Billion Crypto Hedge Fund Have ‘Ghosted’ After Bets Go Bad.

“The co-founders of an influential multi-billion-dollar crypto hedge fund have suddenly gone MIA right at the moment that people want their money. Days of swirling rumors have been followed by harder evidence that Three Arrows Capital, or 3AC, is ghosting its business partners…”

https://www.vice.com/en/article/n7zw7x/founders-of-dollar10-billion-crypto-hedge-fund-have-ghosted-after-bets-go-bad


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Ed 53 days ago

Crypto Bank Runs Are Spreading as Accounts Are Frozen

“In a statement on its website, Celsius Network, a major crypto lender, cited “extreme market conditions” for the withdrawal freeze, saying that it had acted to “stabilize liquidity and operations while we take steps to preserve and protect assets.” The company had no further comment. For investors who remember the 2008-09 financial crisis, all of this has a familiar ring.”

https://www.barrons.com/articles/crypto-bank-runs-celsius-accounts-frozen-51655484673


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