Crypto lender Babel Finance wins debt repayment reprieve after withdrawal freeze

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Babel Finance, the Hong Kong-based crypto lender which suspended withdrawals and redemption of crypto assets on Friday, said it has reached an agreement with counterparties on the repayment of some debts to ease short-term liquidity.Cryptocurrency valuations have plunged in recent weeks as investors dump

Babel Finance, the Hong Kong-based crypto lender which suspended withdrawals and redemption of crypto assets on Friday, said it has reached an agreement with counterparties on the repayment of some debts to ease short-term liquidity.

In an update on its website on Monday, Babel said it carried out an emergency assessment of its business operations to determine the company's liquidity status.

 

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