Babel Has Been Granted a Reprieve From Debt Repayments

Babel, based in Hong Kong, expressed that it has reached tentative agreements on the repayment time frame of its recently acquired debts. This, in turn, has reduced the company's short-term liquidity burden. Babel Finance, the embattled crypto lender which suspended withdrawals on Friday, has received a reprieve on debt repayments as it fights to stay afloat amid a dramatic cryptocurrency market downturn.

Babel is in talks with significant institutions about possible remedies, including forming a new business to take up some of the debt. This information comes from a source familiar with the situation who asked ...

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