Babel lost over $280M trading with customer funds; wants to raise up to $300M

Embattled crypto lender Babel Finance lost over $280 million while trading with customer funds, The Block reported July 29, citing the firm’s restructuring proposal deck. The report said that Babel Finance lost around 8,000 Bitcoin (BTC) and 56,000 Ethereum (ETH) in June when it faced forced liquidation of its positions due to the market downturn. … Read more

Three Arrows Capital’s founders resurface; hint at relocating to Dubai

Su Zhu and Kyle Davies, the escaping co-founders of Three Arrows Capital (3AC) have shown up to share their side of the story relating to 3AC’s collapse. They however maintained innocence on rumors about absconding with investors’ funds. In an exclusive interview with Bloomberg, the duo cited high leveraged bets, the fall of the Terra … Read more