Babel Finance suspends withdrawals, citing ‘unusual liquidity pressures’

Babel Finance, the Asia-based crypto financial services firm, suspended client withdrawals five days after a similar move by Celsius triggered a fresh bout of turbulence in crypto markets.

“Due to the current situation, Babel Finance is facing unusual liquidity pressures,” Babel said in a notice on its website on Friday.Crypto markets were rocked at the top of the week as crypto lending platform Celsius halted withdrawals.

Source #TOGRP

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