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Babel Finance Reaches Agreement on Modalities for Repayment of its Loans

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Following the halt of its withdrawals amidst its inability to pay its creditors as the crypto market meltdown took a bearish turn in the past few days, Babel Finance has announced measures to ease off its immediate operational burdens.

While it said when it halted its withdrawals that it was experiencing unpleasant liquidity risks, the platform noted in a Monday announcement that it has “carried out an emergency assessment of the company’s business operations to understand the company’s liquidity status,” as one of the major measures to curb its current woes.

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