Babel Finance Lost $280M Trading Customer Funds: Report

Babel Finance Lost $280M Trading Customer Funds: Report

The firm lost around 8,000 bitcoin (BTC) and 56,000 ether (ETH) in June in forced liquidations as the crypto market plunged to an 18-month low, sending bitcoin below $20,000, the deck shows, according to The Block. The trades were unhedged in what was described as a “volatile trading week.”

Originally Posted on: https://www.coindesk.com/business/2022/07/29/babel-finance-lost-280m-trading-customer-funds-report/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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