Crypto Suffer Another Blow: Babel Finance Suspends Withdrawals

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The Street

By Rob Lenihan The crypto firm suspends withdrawals and redemptions in last shock to the crypto sector, leaving investors to ask ‘who’s next?’ Crypto financial services company Babel Finance said it was temporarily suspending withdrawals and redemptions in the latest blow to the cryptocurrency sector. The Hong Kong-based company said in a June 17 statement posted on its website that “recently, the crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events.” “Due to the current situation, Babel Finance is facing unusual liquidity pre…

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