How much is Babel Finance worth?

The funding round sets the firm's valuation to $2 billion. Babel Finance provides crypto financial services to institutional investors. (Sharon McCutcheon/Unsplash) Babel Finance reached unicorn status after raising $80 million in a funding round that valued the crypto financial services provider at $2 billion.

Why did Babel finance suspend withdrawals and redemptions of crypto assets?

Babel Finance temporarily suspended the withdrawals and redemption of crypto assets on Friday, as the crypto lender scrambles to pay its clients after the recent slump in the digital currency market. Cryptocurrency valuations have plunged in recent weeks as investors dump risky assets in a rising rate environment.

What is Babel & how does it work?

Babel has evolved from a crypto lending business targeting miners and others into a comprehensive crypto asset manager for institutional investors. It’s now serving a group of 500-plus organizations and high net-worth individuals with services including crypto lending and borrowing as well as portfolio management.

Does Babel invest in startups?

Like other deep-pocketed crypto firms, Babel is now making its own venture capital bets on emerging startups. Since 2020, it has invested in more than 10 companies that focus on crypto finance, brokerage and trading, and decentralized finance (DeFi), though it didn’t name which.