Fiat Money Is Babel, Bitcoin Is Clarity
Fiat obstructs true price signals which convey economic reality, and bitcoin fixes this.Come, let us go down and confuse their language so they will not understand each other.-Genesis 11:7The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. -Friedrich August von HayekA price system is an information exchange network. It works best when built on top of a globally-shared neutral monetary medium. The more complex society becomes, the more pressing the need for a neutral monetary standard that doesn’t introduce noise....
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Bitcoin represents the ultimate step forward in bringing clarity to the world through money grounded in physics and math.
Hong Kong-based asset manager Babel Finance is the latest crypto lending firm to signal the growing crisis of the cryptocurrency lending industry amid the bear market. Hong Kong-based asset manager Babel Finance is the latest cryptocurrency lending firm experiencing some serious issues amid the ongoing market downturn.Babel Finance officially announced June 17 a temporary suspension of redemptions and withdrawals from its products, citing “unusual liquidity pressures.”“Recently, the crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive....
Leaked recordings suggest crypto lender Babel Finance leveraged some user funds to long bitcoin and faced potential default risks during this year’s Black Thursday market crash.
The cryptocurrency lending platform Babel Finance finally reached a debt agreement with counterparties. Before now, the firm had experienced some difficulties in its operations due to the present market downturn. It stopped withdrawing and redeeming crypto assets in its custody at the time to avoid possible liquidity pressures. However, by carrying out its legal responsibilities […]