5 Crypto Companies Hit By The Recent Crash

4. Babel Finance

Babel Finance is a Hong-Kong Based cryptocurrency lender and financial service provider. The company offers professional cryptocurrency asset financial services to its customers. The company halted all user withdrawals in June.

After its announcement halting user withdrawals, Babel Finance disclosed that it was hit by unprecedented liquidity issues because of the volatile crypto market conditions. Since then, the company has reached an agreement with several counterparties to receive payments for some debts that may ease its liquidity issues.

However, the company has not yet allowed user withdrawals to be made again. Babel Finance is one of the many crypto companies that have been hard hit by the crypto winter, resulting in billions of dollars being made inaccessible to investors.