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<blockquote data-quote="SlugSlinger" data-source="post: 3800733" data-attributes="member: 7248"><p><h3>Crypto Tumult Spreads as Lender Babel Puts Freeze on Withdrawals</h3><h3>Move is in response to ‘unusual liquidity pressures’ Babel news follows Celsius, Three Arrows in sign of distress</h3><p><a href="https://www.bloomberg.com/authors/AVmRps-ull0/muyao-shen" target="_blank">Muyao Shen</a>June 17, 2022, 11:22 AM CDT</p><p>June 17, 2022, 7:31 AM CDT</p><p>From</p><p>In a sign of deepening turmoil in the crypto community, Babel Finance became the second major digital-asset lender this week to freeze withdrawals, telling clients it is facing “unusual liquidity pressures” as it contends with recent market declines.</p><p>“The crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events,” the Asia-based lender and asset manager said in a notice on its <a href="https://babel.finance/article-views.html?id=50" target="_blank">website</a> to explain the temporary measure. A spokesperson at Babel told Bloomberg that the team has faced “some pressure” and “are working on it.”</p><p></p><p>Down from $65k</p><p></p><p></p><p>[ATTACH=full]280699[/ATTACH]</p><p>[ATTACH=full]280700[/ATTACH]</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3800733, member: 7248"] [HEADING=2]Crypto Tumult Spreads as Lender Babel Puts Freeze on Withdrawals[/HEADING] [HEADING=2]Move is in response to ‘unusual liquidity pressures’ Babel news follows Celsius, Three Arrows in sign of distress[/HEADING] [URL='https://www.bloomberg.com/authors/AVmRps-ull0/muyao-shen']Muyao Shen[/URL]June 17, 2022, 11:22 AM CDT June 17, 2022, 7:31 AM CDT From In a sign of deepening turmoil in the crypto community, Babel Finance became the second major digital-asset lender this week to freeze withdrawals, telling clients it is facing “unusual liquidity pressures” as it contends with recent market declines. “The crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events,” the Asia-based lender and asset manager said in a notice on its [URL='https://babel.finance/article-views.html?id=50']website[/URL] to explain the temporary measure. A spokesperson at Babel told Bloomberg that the team has faced “some pressure” and “are working on it.” Down from $65k [ATTACH type="full" alt="FECF2625-7458-4A69-B2E8-202C9BC38A33.jpeg"]280699[/ATTACH] [ATTACH type="full" alt="0A86210C-8385-408E-8EFF-63A91BC2DF15.jpeg"]280700[/ATTACH] [/QUOTE]
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