Babel Finance, an Asian crypto financial services company, has announced a temporary suspension of customer withdrawals. Following similar changes to Celsius and causing turmoil in the crypto market
“Given the current situation, Babel Finance is facing unusual liquidity pressures,” Babel said in a statement.announceOn the website “During this period Redemptions and withdrawals from Babel Finance products will be temporarily suspended.”
A Babel spokesman said it was working to best protect the interests of customers. The company promised a follow-up announcement. when returning to service as usual
Crypto Markets Shaken as Cryptocurrency Lending Platform Celsius Stops Withdrawals And this puts downward pressure on crypto prices amid a backdrop of volatile macroeconomic as the Federal Reserve raised interest rates, its biggest hike since 1994.
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