Babel Finance suspended withdrawals, citing ‘extraordinary liquidity pressures’.
Asia-based crypto financial services firm Babel Finance has suspended customers’ withdrawals due to turbulence in the crypto markets.
An announcement posted on its website on Friday stated:
“Babel Finance is facing extraordinary liquidity pressures due to the current situation. We are in close communication with all relevant parties regarding the measures we take to best protect our customers. During this period, buybacks and withdrawals from Babel Finance products will be temporarily suspended and normal service will be notified separately.”
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