Last Minute: Babel Finance Suspends Withdrawal Transactions

Cryptocurrency financial services provider Babel Finance has announced that withdrawals have been halted due to market conditions.

Last Minute: Babel Finance Suspends Withdrawal Transactions. The downturn in the cryptocurrency markets adversely affected service providers. Crypto exchanges and crypto lending companies have often started suspending withdrawals. Lastly, after Celsius, cryptocurrency financial services provider Babel Finance also announced in the past minutes that withdrawals have been stopped. Asia-based crypto financial services company Babel Finance made a statement on its corporate website and informed its customers. We Face Unusual Liquidity Pressure The following statements, cited the current market conditions as the reason: “Recently, the crypto market has seen major volatility and some institutions in the industry have experienced conductive risk events. Due to the current situation, Babel Finance is facing unusual liquidity pressures. We are in close communication with all relevant parties regarding the measures we take to best protect our customers.” Babel Finance stated that users will be notified when withdrawals are restarted.       Source: Coinkolik