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.

Is Binance suspending UK withdrawals?

Cryptocurrency platform Binance has suspended UK withdrawals, leaving investors unable to access their cash. Customers were told that bank withdrawals through the Faster Payments network have been “temporarily suspended”.

Why was the withdrawal function suspended?

"After investigation, we found that the withdraw function was suspended due to the withdrawal risk control. If you cannot pass the self-help process online, please provide us with the following information for the account verification and we are going to help you through the ticket.