Troubled cryptocurrency lending firm Babel Finance has more time to repay debts to creditors like Deribit after suspending withdrawals in 2022.
A court in Singapore has extended creditor protection for Babel Finance by another three months, BloombergAccording to Babel co-founder and former CEO Flex Yang, the moratorium will last until July 21, enabling the firm to pursue its restructuring plan via a new decentralized finance project called Hope. Flex returned to oversee Babel’s restructuring process a few years after stepping down from CEO role in 2021.
“In the coming international political changes, HOPE will be an important tool for us to reconnect the world. [...] We are confident that our new team will continue to use their hope and light to move the new project forward.”the Hope DeFi project in mid-March 2023, positioning the initiative as a combination of DeFi and centralized finance to enable DeFi-level transparency and security and centralized finance-level access.
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Stay away from cryptocom 🚨🚨 They are using very shady TOS Even if you pass all KYC, and you are years on their platform, and never did anything wrong or illegal, they will still close your account. CryptoCom Cro bitcoin Crypto FTX DeFi ntf notyoukeysnotyourmoney
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