Cryptocurrency loan platform Babel Finance wants to work with investment bank Houlihan Lokey, which operates on restructuring.
Reaching a valuation of $2 billion after the series B financing round in May, Babal Finance faced various difficulties after the liquidity problem that had arisen recently. The firm first laid off many people and later lost Yulong Liu, head of the global partnerships department.
A few more names have left the partnerships and PR team, according to their LinkedIn profiles.
The company suspended withdrawals last month due to liquidity issues.
Babal Finance continues to work to recover after all these events. As part of this process, it will act together with Houlihan Hockey, which is operating on the restructuring. According to a source from CoinDesk, the deal is in the process.
The same source stated that Babel Finance will reach a conclusion about the future of the company in the next few weeks.
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