Crypto lending platform Babel Finance reaches counterparty debt agreement

Crypto lending platform Babel Finance reaches counterparty debt agreement

The firm emphasized that it will “actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks.” Hong Kong-based crypto lending firm, Babel Finance, has eased some of its immediate liquidity troubles by reaching debt repayments agreements with some of its counterparties. As previously reported, the firm issued a temporary suspension of redemptions and withdrawals from its products on June 17 after citing “unusual liquidity pressures” in the current bear market. The company stated it was taking swift action to protect....


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