Crypto lender Babel Finance wins debt repayment reprieve after withdrawal freeze
Tuesday, June 21, 2022
© Reuters. A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) - Babel Finance, the Hong Kong-based crypto lender which suspended withdrawals and redemption of crypto assets on Friday, said it has reached an agreement with counterparties on the repayment of some debts to ease short-term liquidity.
Cryptocurrency valuations have plunged in recent weeks as investors dump risky assets in a rising interest rate environment. Bitcoin BTC=BTSP, which reached a record high of $69,000 in November, lost more than half its value this year.
In an update on its website on Monday, Babel said it carried out an emergency assessment of its business operations to determine the company's liquidity status.
Crypto lenders gather crypto deposits from retail customers and re-invest them, proclaiming double-digit returns and attracting tens of billions of dollars in assets. However, lenders have been unable to redeem their clients' assets during the recent meltdown.
"Babel Finance will actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks," the company said.
Babel, which has 500 clients and only deals in bitcoin, ethereum and stablecoins, raised $80 million in a funding round last month, valuing it at $2 billion. It had ended last year with $3 billion of loan balances on its balance sheet.
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25-06-2022 23:16:43 (UTC+7)
EUR/USD
1.0554
+0.0031 (+0.29%)
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EUR/USD
1.0554
+0.0031 (+0.29%)
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Sell (4)
GBP/USD
1.2272
+0.0012 (+0.10%)
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USD/JPY
135.23
+0.29 (+0.22%)
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AUD/USD
0.6944
+0.0055 (+0.80%)
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USD/CAD
1.2891
-0.0103 (-0.79%)
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EUR/JPY
142.71
+0.71 (+0.50%)
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EUR/CHF
1.0114
-0.0001 (-0.01%)
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Gold Futures
1,828.10
-1.70 (-0.09%)
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Silver Futures
21.130
+0.088 (+0.42%)
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Copper Futures
3.7365
-0.0025 (-0.07%)
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Crude Oil WTI Futures
107.06
+2.79 (+2.68%)
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Brent Oil Futures
113.19
+3.14 (+2.85%)
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Natural Gas Futures
6.173
-0.066 (-1.06%)
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US Coffee C Futures
223.40
-5.60 (-2.45%)
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Sell (0)
Euro Stoxx 50
3,533.17
+96.88 (+2.82%)
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S&P 500
3,911.74
+116.01 (+3.06%)
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DAX
13,118.13
+205.54 (+1.59%)
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FTSE 100
7,208.81
+188.36 (+2.68%)
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Indicators:
Buy (7)
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Hang Seng
21,719.06
+445.19 (+2.09%)
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↑ BuyMoving Avg:
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Buy (6)
Sell (0)
US Small Cap 2000
1,765.74
+54.06 (+3.16%)
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↑ BuyMoving Avg:
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Buy (9)
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IBEX 35
8,244.10
+137.70 (+1.70%)
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SellMoving Avg:
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Sell (9)
Indicators:
Buy (3)
Sell (5)
BASF SE NA O.N.
42.215
+0.785 (+1.89%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (7)
Sell (1)
Bayer AG NA
57.79
-0.75 (-1.28%)
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↑ SellMoving Avg:
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Sell (7)
Indicators:
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Sell (7)
Allianz SE VNA O.N.
181.20
+2.20 (+1.23%)
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↑ SellMoving Avg:
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Sell (10)
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Buy (2)
Sell (4)
Adidas AG
170.36
+3.30 (+1.98%)
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↑ SellMoving Avg:
Buy (1)
Sell (11)
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Buy (3)
Sell (5)
Deutsche Lufthansa AG
5.966
-0.310 (-4.94%)
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↑ SellMoving Avg:
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Sell (8)
Indicators:
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Sell (6)
Siemens AG Class N
102.62
+3.36 (+3.39%)
Summary
↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (6)
Sell (1)
Deutsche Bank AG
8.919
+0.407 (+4.78%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
| EUR/USD | 1.0554 | Buy | |||
| GBP/USD | 1.2272 | ↑ Sell | |||
| USD/JPY | 135.23 | ↑ Buy | |||
| AUD/USD | 0.6944 | ↑ Sell | |||
| USD/CAD | 1.2891 | ↑ Sell | |||
| EUR/JPY | 142.71 | ↑ Buy | |||
| EUR/CHF | 1.0114 | ↑ Sell |
| Gold | 1,828.10 | ↑ Buy | |||
| Silver | 21.130 | Neutral | |||
| Copper | 3.7365 | Sell | |||
| Crude Oil WTI | 107.06 | ↑ Sell | |||
| Brent Oil | 113.19 | ↑ Sell | |||
| Natural Gas | 6.173 | ↑ Buy | |||
| US Coffee C | 223.40 | ↑ Buy |
| Euro Stoxx 50 | 3,533.17 | Neutral | |||
| S&P 500 | 3,911.74 | ↑ Buy | |||
| DAX | 13,118.13 | ↑ Sell | |||
| FTSE 100 | 7,208.81 | ↑ Buy | |||
| Hang Seng | 21,719.06 | ↑ Buy | |||
| Small Cap 2000 | 1,765.74 | ↑ Buy | |||
| IBEX 35 | 8,244.10 | Sell |
| BASF | 42.215 | ↑ Buy | |||
| Bayer | 57.79 | ↑ Sell | |||
| Allianz | 181.20 | ↑ Sell | |||
| Adidas | 170.36 | ↑ Sell | |||
| Lufthansa | 5.966 | ↑ Sell | |||
| Siemens AG | 102.62 | ↑ Buy | |||
| Deutsche Bank AG | 8.919 | ↑ Buy |
| Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
|---|---|
| SJC Eximbank | 6,760/ 6,840 (0/ 0) # 1,696 |
| SJC HCM | 6,785 / 6,865 (5 / 5) # 1,716 |
| SJC Hanoi | 6,785/ 6,867 (5 / 5) # 1,718 |
| SJC Danang | 6,785/ 6,867 (5 / 5) # 1,718 |
| SJC Nhatrang | 6,785/ 6,867 (5 / 5) # 1,718 |
| SJC Cantho | 6,785/ 6,867 (5 / 5) # 1,718 |
| Cập nhật 25-06-2022 23:16:45 | |
| Xem lịch sử giá vàng SJC: nhấn đây! | |
| ↀ Giá vàng thế giới | ||
|---|---|---|
| $1,827.54 | +2.91 | 0.16% |
| ʘ Giá bán lẻ xăng dầu | ||
|---|---|---|
| Sản phẩm | Vùng 1 | Vùng 2 |
| RON 95-V | 33.470 | 34.130 |
| RON 95-III | 32.870 | 33.520 |
| E5 RON 92-II | 31.300 | 31.920 |
| DO 0.05S | 30.010 | 30.610 |
| DO 0,001S-V | 30.810 | 31.420 |
| Dầu hỏa 2-K | 28.780 | 29.350 |
| ↂ Giá dầu thô thế giới | |||
|---|---|---|---|
| WTI | $107.55 | 0 | 0% |
| Brent | $113.07 | 0 | 0% |
| $ Tỷ giá Vietcombank | ||
|---|---|---|
| Ngoại tệ | Mua vào | Bán ra |
| USD | 23.080,00 | 23.390,00 |
| EUR | 23.828,41 | 25.163,09 |
| GBP | 27.747,33 | 28.930,97 |
| JPY | 167,31 | 177,13 |
| KRW | 15,45 | 18,82 |
| Cập nhật lúc 18:51:12 25/06/2022 Xem bảng tỷ giá hối đoái | ||
