Earlier quoted context omitted.
This is sarcasm, right?
Its hard to tell with this particular cult.
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Crypto lending company Babel Finance halts redemptions and withdrawals
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Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#12I found it amusing that this notice says "Due to the current situation, Babel Finance is facing unusual liquidity pressures" and their homepage says "Seeking Certainty in Uncertainty".
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Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#13That's what you get in a zero-interest rate environment with no industrial policy. Building physical infrastructure would cost real-world money and cut into profits, hence what you end up with is virtual casinos. No one is better off with that. At least in the runup to 2008 there was housing built speculatively, but since then there has been no productive investment at all.
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Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#14That's what you get in a zero-interest rate environment with no industrial policy. Building physical infrastructure would cost real-world money and cut into profits, hence what you end up with is virtual casinos. No one is better off with that. At least in the runup to 2008 there was housing built speculatively, but since then there has been no productive investment at all.
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Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#15Interesting choice of name, presumably they were familiar with how the Tower of Babel played out.
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#16They have a couple open “Risk Control Manager” positions. Probably high-priority hires.
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#17Interesting choice of name, presumably they were familiar with how the Tower of Babel played out.
The name was too subtle. They needed to add a giant “/s” after it.
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#18Remember when crypto was supposed to be the "holy grail" against the current economic situation?
Edit:- the cycle of upvotes and down votes on this comment hahaha....
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#19I found it amusing that this notice says "Due to the current situation, Babel Finance is facing unusual liquidity pressures" and their homepage says "Seeking Certainty in Uncertainty".
Naming your company after a failed experiment is also an ironic choice.
What’s next… Icarus Investments?
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#20No post body was provided.