Crypto Firms Run Into Hardships

Reuters2022-07-14

Crypto firms, which boomed during the COVID-19 pandemic, have run into difficulties recently due to a slump brought on by the downfall of a major token in May and a global risk-off sentiment.Below are...

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Comments

ocean_wave
2022-07-16
ocean_wave
[Cry]
Bull1973
2022-07-15
Bull1973
Ok
Tanyl
2022-07-14
Tanyl
Waite for Mara price up
zzqq
2022-07-14
zzqq
Conviction or convince?
cheekeong
2022-07-14
cheekeong
Ok
h20
2022-07-14
h20
Already crypto winter [Cry]

Leave a comment

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In a blog post, Vauld said it was facing \"financial challenges\" due to volatile market conditions.\"The financial difficulties of our key business partners inevitably affecting us,\" the company said, adding that customers had withdrawn around $200 million since June 12.Babel FinanceThe Hong Kong-based crypto lender said it had temporarily suspend withdrawals and redemption of crypto assets on June 17, as the company scrambles to pay its clients.\"Due to the current situation, Babel Finance is facing unusual liquidity pressures,\" the company said, highlighting high volatility of the digital currency market.Coinbase Global IncThe cryptocurrency exchange said on June 14 it would cut about 1,100 jobs, or 18% of its workforce.\"We appear to be entering a recession after a 10+ year economic boom. 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