Why has Babel finance suspended withdrawals & redemptions?

Hong Kong-based crypto lender Babel Finance has suspended withdrawals and redemptions, according to an announcement on the company's website. "Babel Finance is facing unusual liquidity pressures," the statement reads, before alluding to major fluctuations in the market and "conductive risk events" among institutional market participants.

Is Babel finance facing unusual liquidity pressures?

"Babel Finance is facing unusual liquidity pressures," the statement reads, before alluding to major fluctuations in the market and "conductive risk events" among institutional market participants. Last month, Babel raised $80 million in a Series B round with a valuation of $2 billion.

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.

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.