بابل فنانس 'غیر معمولی لیکویڈیٹی پریشر' کو کم کرنے کے لیے کام کر رہا ہے

Babel Finance has reached preliminary agreements with counterparties and customers dealing with the repayment period of some debts to ease the company’s liquidity pressure in the short term.

اپ ڈیٹ, shared on the crypto lender’s website on Monday, follows Babel Finance — as well as other crypto companies such as سیلسیس اور تین تیر دارالحکومت — disclosing liquidity issues in recent days as crypto prices have plunged.

The price of bitcoin was at $20,640 at 10:30 am ET on Monday morning, according to data compiled by Blockworks — up about 6% in the past 24 hours but down roughly 23% from a week ago. 

بابل خزانہ جمعہ کو انکشاف ہوا that redemptions and withdrawals from its products would be temporarily suspended amid “unusual liquidity pressures.”

The company noted in its Monday statement that it did an emergency assessment of its business operations and looks to fulfill its legal responsibilities to customers by continuing “to avoid further transmission and diffusion of liquidity risks.” 

“We have actively communicated with shareholders and potential investors, and will continue to communicate and obtain liquidity support,” according to the statement.

“Given the current context of severe market volatility, Babel Finance’s management will continue to communicate closely with customers, counterparties, and other partners, and provide updates in a timely and transparent manner.”

Babel Finance did not immediately return a request for further comment.

Founded in 2018, the crypto financial services provider’s main businesses are lending and trading — it focuses on bitcoin, ether and stablecoins. 

بابل خزانہ $80 بلین کی قیمت پر $2 ملین اکٹھا کیا۔ last month. Main investors in the round included Jeneration Capital and 10T Holdings, as well as existing shareholders Dragonfly Capital and BAI Capital.

The firm, which currently had about 500 clients, raised $40 million in its series A round in May 2021.

ہر شام اپنے ان باکس میں دن کی سرفہرست کرپٹو خبریں اور بصیرتیں حاصل کریں۔ بلاک ورکس کے مفت نیوز لیٹر کو سبسکرائب کریں۔ اب.

پیغام بابل فنانس 'غیر معمولی لیکویڈیٹی پریشر' کو کم کرنے کے لیے کام کر رہا ہے پہلے شائع بلاک ورکس.

• سکے سمارٹ۔ یورپ کا بہترین بٹ کوائن اور کرپٹو ایکسچینج۔
• پلیٹو بلاک چین۔ Web3 Metaverse انٹیلی جنس۔ علم میں اضافہ۔ مفت رسائی۔
• کرپٹو ہاک۔ Altcoin ریڈار. مفت جانچ.
• Source: https://blockworks.co/babel-finance-working-to-ease-unusual-liquidity-pressures/