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Interesting choice of name, presumably they were familiar with how the Tower of Babel played out.
Every generation rediscovers the financial frauds of the past
I 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?
Remember 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....
The concept is sound, implementation is what matters. Blockchain and crypto got hijacked is all.
Not all of these crypto projects will survive. When the tide lowers, we will be seeing who is swimming naked and it looks like these DeFi projects have been caught after the hype has died with the market sentiment turning bearish for crypto in general. The ones that will survive this crypto crash are probably going to be around for much longer, especially most cryptocurrency coins and blockchains (and not the ERC-20…
Not all of these crypto projects will survive. When the tide lowers, we will be seeing who is swimming naked and it looks like these DeFi projects have been caught after the hype has died with the market sentiment turning bearish for crypto in general. The ones that will survive this crypto crash are probably going to be around for much longer, especially most cryptocurrency coins and blockchains (and not the ERC-20…
Question for the crypto skeptics of HN. Do you think this cycle the whole crypto space goes down the drain never to be heard of again? Do you think the whole space is a fad or do you think there are patches of values underneath the froth? How do you see the space evolving? Thanks!
* As is, while clearly some of these failures have had a massive impact, there clearly a lot of DeFi projects of significance still standing: