Babel Finance Loses $280 Million, 8,000 BTC Of Customer Funds: Report

A report cites a restructuring deck where Babel details unhedged ‘risky’ trading practices leading to mass liquidations which require massive debt to recover.

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Babel Finance Hires Restructuring Specialist Houlihan Lokey: Sources

Babel Finance has tapped restructuring specialist Houlihan Lokey to explore options for reworking its debt. The firm faces financial difficulties triggered by the current extreme market conditions. (Read More)

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Top Executives Quit as Babel Finance Sees Financial Woes

Top employees are leaving Babel Finance as the firm has not reached an amicable solution to its accounting challenges. Meanwhile, thousands of customers are still unable to access their funds. (Read More)

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CoinFlex to resume withdrawals after raising funds via new token issuance

Crypto exchange CoinFlex will resume withdrawals after issuing a new token — dubbed Recovery Value USD (rvUSD) — which will offer 20% annual returns to users, the exchange announced in a whitepaper on June 27.

The post CoinFlex to resume withdrawals after raising funds via new token issuance appeared first on CryptoSlate.

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Crypto-financial Lender Babel Finance Secures $80m in Series B Funding, Valuated up to $2Bn

Hong Kong-based crypto-financial lender Babel Finance has raised $80 million in Series B funding at a valuation of $2 billion. (Read More)

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