Category: Babel Finance

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Today in Crypto: Luno Leaving Singapore, Wirex Launching Private ‘Luxury Service’, Court Extends Creditor Protection for Babel Finance

April 18, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Luno Leaving Singapore, Wirex Launching Private ‘Luxury Service’, Court Extends Creditor Protection for Babel Finance  Read more »Sign up for e-EUR – the progressive stablecoin

Former CEO of Troubled Crypto Firm Creates New Stablecoin – How Does it Work?

March 14, 2023

Flex Yang, the former CEO and founder of Babel Finance, has introduced a new decentralized stablecoin backed by crypto-native reserves and an entire DeFi ecosystem built around it. Yang claimed the Hope stablecoin blends centralized finance (CeFi), decentralized finance (DeFi) and traditional finance (TradFi) to deliver transparency and security that other so-called decentralized stablecoins lacked,…
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Troubled Crypto Lender Babel Finance Eyes Restructuring with Stable Asset Project – How Does it Work?

March 7, 2023

The troubled crypto lending firm Babel Finance is working on a new plan to raise money through a crypto-backed stablecoin. The new stablecoin that is being proposed is called Babel Recovery Coin. The plan is for the coin to maintain a $1 price in the market through a system of trading incentives, and backing by…
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Q2 2022 Cryptocurrency Report Highlights Terra’s Collapse and Capital Exiting the Crypto Ecosystem

July 23, 2022

On July 13, the dedicated crypto price tracking, volume, and market capitalization web portal Coingecko published the company’s “Q2 2022 Cryptocurrency Report” which discusses the last quarter’s crypto market action and insights. The 46-page report explains how the Terra UST and LUNA fallout wreaked havoc on the entire crypto ecosystem and the stablecoin economy. Moreover,…
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Here’s how pro traders could use Bitcoin options to buy the $20K BTC dip

June 25, 2022

Predicting a market bottom is pretty much impossible, but clever traders use options strategies like the Iron Condor setup to target a particular trading price range. Bitcoin hit a 2022 low at $17,580 on June 18 and many traders are hopeful that this was the bottom, but (BTC) has been unable to produce a daily…
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Crypto lending platform Babel Finance reaches counterparty debt agreement

June 21, 2022

The firm emphasized that it will “actively fulfill its legal responsibilities to customers and strive to avoid further transmission and diffusion of liquidity risks.” Hong Kong-based crypto lending firm Babel Finance has eased some of its immediate liquidity troubles by reaching debt repayments agreements with some of its counterparties. As previously reported, the firm issued a…
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Ethereum risks another 60% drop after breaking below $1K to 18-month lows

June 18, 2022

A 2018-like bearish cycle could have Ether drop toward $420 in the coming weeks. The price of Ethereum’s native token, Ether (ETH), careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued despite the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from…
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XRP price technical breakdown boosts chances of a 40% drop by July

June 17, 2022

XRP’s bearish outlook is driven by a mix of technical and fundamental factors that could see its price drop to $0.18 next. Ripple (XRP) price stares at potential losses in the coming weeks as it breaks out of a “descending triangle” pattern, with its bias skewed toward the downside. Major XRP breakdown underway To recap, XRP…
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