Steps to Adjust Liquidity Status from Babel Finance

Hong Kong-based crypto financial services company Babel Finance has announced new steps to improve its liquidity situation after suspending operations last week.

of The Block 20 June According to the news dated last week Friday living the day liquidity problems because of payments and withdrawals suspending Babel Financein its business activities to understand its liquidity situation. emergency assessment he said he did.

According to the statement, it has reached a preliminary agreement with major counterparties and customers on the repayment period of some debts. Babel FinanceIn this way “It eases the company’s short-term liquidity pressure” stated.

In addition, it is already with shareholders and potential investors. actively communicating confirming company, to communicate and to receive liquidity support He said he will continue.

A company spokesperson said, The news that Babel Finance has declared bankruptcy to its partners about “No, we never said anything like that to our partners.” while making a statement Whether they are experiencing liquidity problems due to Three Arrows Capital (3AC) on a question about “Babel Finance has no business with Three Arrow Capital.” made his statement.

The Block‘according to Babel FinanceThese statements made by It does not mean that currently suspended processes will be restarted.

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