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Babel Finance

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Crypto’s Latest Stablecoin, Called HOPE, Started by Ex-Babel Finance CEO Flex Yang

The token will serve as the native stablecoin for the new Hope ecosystem, which is focused on bringing traditional-finance users to the crypto market.

By Shaurya Malwa

Mar 13, 2023 at 12:37 p.m. UTC

Mar 13, 2023

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CDCROP: Sunrise over Victoria Harbor in Hong Kong China cityscape (Unsplash)

Babel Finance Mulls Crypto-Backed Stablecoin to Repay $766M: Report

The firm's sole director is hoping to roll out a DeFi platform to begin paying back creditors.

By Oliver Knight

Mar 6, 2023 at 12:29 p.m. UTC

Mar 6, 2023

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Report: Lender Babel Finance Lost $280M Trading Customer Funds

Hong Kong crypto lender Babel Finance reportedly lost $280 million in proprietary trades with customer funds, according to The Block. Babel Finance suspended withdrawals in June amid the liquidity crisis and “The Hash” panel discusses the ongoing contagion and their outlook for crypto regulation.

By CoinDesk Staff

Jul 29, 2022 at 5:43 p.m. UTC

Jul 29, 2022

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Voyager

Zipmex Receives Investment Offer; Voyager Calls FTX’s Offer ‘Low-Ball’ Bid

Troubled crypto exchange Zipmex said it received an investment offer from an interested party as it faces $100 million in losses on loans to Babel Finance. ProChain Capital President David D. Tawil discusses what this means for the future of Zipmex.

By CoinDesk Staff

Jul 25, 2022 at 8:04 p.m. UTC

Jul 25, 2022

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Nft

NFT Market Fraud in Focus; Bybit Job Cuts

Hong Kong movie star Louis Koo denies involvement with Chinese NFT platform. China’s Wechat bans NFT marketplace over flipping. Combating phishing scams and insider trading in the NFT market. Babel Finance says liquidity pressure eased with new debt agreements. Bybit to cut up to 30% of employees.

By CoinDesk Staff

Jun 21, 2022 at 3:39 p.m. UTC

Jun 21, 2022

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Finance

Babel finance

Babel Finance Sets Up Shop in Singapore

Over two-thirds of Singaporeans with personal investments have crypto in their portfolios.

By Eliza Gkritsi

Sep 17, 2021 at 11:06 a.m. UTC

Sep 17, 2021

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Markets

Hong kong

Babel Finance Bets on Longtime Fintech Hand to Help Navigate Regulatory Landscape

The Hong Kong-based crypto lender says new CFO Edmond Lau will oversee $500 million in assets under management.

By Eliza Gkritsi

Jul 30, 2021 at 1:00 p.m. UTC

Jul 30, 2021

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Cdtv

Crypto Finance Firms are Lending, But Who’s Borrowing?

More and more crypto lenders are getting into the lending game, but who is taking out loans using crypto as collateral? Babel Finance’s Yulong Liu says borrowers range from crypto miners to professional trading desks. Plus, he shares his plans to use the $40 million raised in the most recent funding round.

By CoinDesk Staff

May 14, 2021 at 2:55 p.m. UTC

May 14, 2021

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