Why is Babel finance suspending withdrawals?

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.

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.

Why is Binance suspending withdrawals?

The temporary suspension was due to a “large amount of outstanding withdrawal transactions,” according to Binance. Network slowness and congestion are to blame for many pending withdrawal transactions.