Business Maverick: Distressed crypto lender Babel wins reprieve on debt repayments

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The Hong Kong-based Babel has 'reached preliminary agreements on the repayment period of some debts, which has eased the company’s short-term liquidity pressure'. Babel's difficulties highlight the turmoil sweeping the crypto sector, where at least one ...

Babel Finance, the distressed crypto lender which froze withdrawals on Friday, said it won a reprieve on debt repayments as it battles to survive a tumultuous slump in cryptocurrency markets.

Bloomberg on Monday and later posted to its website. Co-founder Flex Yang told Bloomberg the company “will disclose to the public” once they’ve made progress.

 

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