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Babel Finance, a Hong Kong-based asset management firm and cryptocurrency lender, is the latest cryptocurrency lending provider to be hit hard by the current market. Babel Finance said on Friday that redemptions and withdrawals from its products would be temporarily halted due to "unusual liquidity challenges." According to a note on
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Crypto lender Babel Finance is the latest company to freeze withdrawals following speculation about the possible collapse of hedge fund Three Arrows Capital. Original Source
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The firm, which provides crypto financial services to institutional investors, is valued at $2 billion. Source
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Babel Finance is letting bitcoin mining firms put up their machines as loan collateral so the lender can offer them better terms.The loan-to-value ratio (LTV) for these loans is 30%, in part because Babel keeps the freshly mined crypto until the borrower pays back the loan. The LTV is significantly
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Leaked recordings of a private conversation 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 in March.Seven audio files first emerged online on Sept. 25 that appear to be parts of a longer in-person conversation
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Chinese cryptocurrency lending startup Babel Finance said it has reached a record of $380 million in outstanding loans as of February.Flex Yang, co-founder of Babel Finance, said on Thursday the firm's outstanding loans have grown from $52 million-worth of USDT as of Q1 2019 to $289 million as of the
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