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.

Why is Genesis suspending client withdrawals?

Crypto broker Genesis announced to clients that it is suspending client withdrawals from its lending arm, citing "unprecedented market turmoil" following the demise of crypto exchange FTX.

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.

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.