Why did Babel finance suspend client withdrawals?

Babel Finance, the Asia-based crypto financial services firm, suspended client withdrawals amid turbulence in crypto markets. "Due to the current situation, Babel Finance is facing unusual liquidity pressures," according to a notice on its website on Friday.

How has Babel finance responded to a market downturn?

The transformation of value in the digital age. Babel Finance has responded to a market downturn by temporarily freezing withdrawals and redemptions. Hong Kong-based crypto lender Babel Finance has suspended withdrawals and redemptions, according to an announcement on the company's website.

Why is Celsius suspending withdrawals?

Major crypto lending platform Celsius on Monday announced it was suspending all withdrawals due to “extreme market conditions,” triggering a major selloff in the cryptocurrency market with Bitcoin dropping dropping more than 9%. The booth of the Celsius Network crypto platform at the Paris NFT Day conference in Paris, France.

Is Binance suspending GBP bank withdrawals?

“Please note that GBP Bank Withdrawals (via Faster Payments) have been temporarily suspended,” Binance noted in a message to users. “We are working to resume this service as soon as we can.” A similar message says that EUR withdrawals are blocked as well.