Crypto lending company Babel Finance halts redemptions and withdrawals
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Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#2I 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".
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#3The music is about to stop!
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#4Every generation rediscovers the financial frauds of the past
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#5Maybe a good thing that companies in that space are going down. Clears the way for more decentralization.
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#6That'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.
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#7Not 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 tokens)
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#8Maybe a good thing that companies in that space are going down. Clears the way for more decentralization.
This is sarcasm, right?
Re: Crypto lending company Babel Finance halts redemptions and withdrawals
#9The music is about to stop!
No, it already did - we're seeing the effects of it now though. The speed it cascades thru though is second.