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Author Topic: Crypto Lending Platform Babel Finance Pauses Withdrawals, Citing ‘Liquidity Pres  (Read 689 times)

Offline Jaya60

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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
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Offline pelana vreo

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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

 

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