Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new stablecoin called Hope.
) as collateral, maintaining its 1:1 ratio with the U.S. dollar through arbitrage incentives for traders, the filing notes.
According to Babel’s estimations, the company owes as much as $524 million worth of BTC, ETH and other tokens to customers due to losses allegedly caused by Wang’s risky trading activities. Another $224 million was reportedly lost when Babel counterparties liquidated collateral after the firm became unable to meet a large volume of margin calls.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Babel Finance Mulls Crypto-Backed Stablecoin to Repay $766M: ReportHong Kong lender BabelFinance is reportedly looking to roll out a crypto-backed stablecoin and DeFi platform as it hopes to repay $766 million in creditor debt. By oknightcrypto.
Baca lebih lajut »
Routine Seattle Police patrolling leads to arrest and recovery of stolen carWhen police approached the running car, they saw two people asleep inside.
Baca lebih lajut »
Businesses along St. Mary’s applying for city’s construction recovery grantsAfter feeling the pain of ongoing construction on their bottom line, some businesses along St. Mary's St. are applying for the city's construction recovery grants program.
Baca lebih lajut »
Broadway bounces back: Ticket sales, attendance jump after slow recovery | amNewYorkThe boom came after months of low revenue and a host of closing notices as the Manhattan theater scene — the biggest in the world – struggled to recover from the pandemic.
Baca lebih lajut »
Brazilian Tax Authority Numbers Reveal Cryptocurrency Market Recovery in January – Bitcoin NewsThe Brazilian tax authority revealed growth in the volume of cryptocurrency transactions, with $2.85 billion dollars being transacted during January.
Baca lebih lajut »