Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Jaya60 on June 18, 2022, 01:01:27 PM
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The $2 billion fund has announced that it’s blocking customers from pulling out their assets, after a slump in the cryptocurrency market.Babel Finance has become the latest crypto lending platform to suspend redemptions and withdrawals, the Hong Kong-based company said in a blog post 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.more (https://decrypt.co/103190/crypto-lending-platform-babel-finance-pauses-withdrawals-citing-liquidity-pressures)
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This is what I'm worried about, some crypto lending platforms lack liquidity, but I still believe in the decentralized system that has been created, and I hope that crypto lending platforms will continue to improve just like banks, I don't think banks will do that in a this situation