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Babel Finance Pauses Withdrawals (Patreon)

Published:
2022-06-18 01:00:37
Imported:
2022-06

Content

cascading liquidations continue driving short term liquidity issues. 

Thank you Sanjay for sharing with me. 

Files

Crypto Lending Platform Babel Finance Pauses Withdrawals, Citing 'Liquidity Pressures' - Decrypt

Babel Finance has become the latest crypto lending platform to suspend redemptions and withdrawals, the Hong Kong-based company said in a Friday. The firm stated it was "facing unusual liquidity pressures" amid a border crash in cryptocurrency prices, citing a lack of available assets readily on-hand as the basis of its decision to prevent customers from moving money out of their accounts.

Comments

Anonymous

Do you thing FTX.com is safe to store and lend crypto?

Anonymous

It seems like it is the lending platforms that seem to be having the toughest time right now. It makes me wonder how risky the exchanges (Binance.us - CA headquarters) and places like Blockfi (NJ headquarters) are. Are companies in the US possibly safer being that they have to work within US laws? I realize it is not black and white. Celsius is based out of Florida.