SIGforum.com Main Page The Lounge Another crypto lending platform is freezing withdrawals as the industry's downward spiral continues
Main Page The Lounge Another crypto lending platform is freezing withdrawals as the industry's downward spiral continuesGo | New | Find | Notify | Tools | Reply | |
I Deal In Lead |
https://www.msn.com/en-us/mone...43d1b794995b8aab7963 Crypto lender Babel is freezing withdrawals for users due to "unusual liquidity pressures." It's the second major platform to do so this week as the crypto market faces a massive selloff. Celsius previously stopped letting customers withdraw their holdings on Sunday. Founders Zhu Su and Kyle Davies, meanwhile, have "ghosted" their business partners as they grapple with concerns over insolvency, Vice reported. | ||
|
| Member |
But, but, but, crypto is going to replace currency because it’s so safe and secure and apparently unwithdrawable. This was always a suckers game. (Yes, the early guys in pyramid schemes make a fortune too) | |||
|
| Member |
Probably the same for paper gold. Gold bugs have been saying for years "If you don't hold it you don't own it" _________________________ | |||
|
| Member |
I agree. If you want gold go buy gold. | |||
|
| I Deal In Lead |
And if you've got gold dust, lots of luck finding someone to buy it unless you're in Canada or Alaska. | |||
|
| His diet consists of black coffee, and sarcasm.  |
I don't have to be clairvoyant to know this was going to happen. | |||
|
| Eschew Obfuscation |
My kids and nephews were big on crypto, they were all gonna be instant millionaires. When crypto was hot, I suggested they sell enough to cover their initial investments so that, even if it crashed, they wouldn't lose any money. The response was 'OK, Boomer'. They don't talk too much about crypto these days. _____________________________________________________________________ “One of the common failings among honorable people is a failure to appreciate how thoroughly dishonorable some other people can be, and how dangerous it is to trust them.” – Thomas Sowell | |||
|
Member |
^^^^^  "If you’re a leader, you lead the way. Not just on the easy ones; you take the tough ones too…” – MAJ Richard D. Winters (1918-2011), E Company, 2nd Battalion, 506th Parachute Infantry Regiment, 101st Airborne "Woe to those who call evil good, and good evil... Therefore, as tongues of fire lick up straw and as dry grass sinks down in the flames, so their roots will decay and their flowers blow away like dust; for they have rejected the law of the Lord Almighty and spurned the word of the Holy One of Israel." - Isaiah 5:20,24 | |||
|
| I Deal In Lead |
P.T. Barnum was right. | |||
|
| Member |
A friend bought pizza with his bitcoin when it was worth a couple of dollars a coin. Everyone might be doing that again. | |||
|
Shaman |
Crypto. Biggest pyramid scheme ever.  He who fights with monsters might take care lest he thereby become a monster. | |||
|
| Green grass and high tides  |
No more adds on the tv either. "Practice like you want to play in the game" | |||
|
| Member |
Sticking with promissory note / federal reserve notes for now. They're back by the Fed, right? | |||
|
Raptorman |
Bernie Madoff would be proud. ____________________________ Eeewwww, don't touch it! Here, poke at it with this stick. | |||
|
| Member |
CRYPTO WORLD Crypto hedge fund Three Arrows Capital plunges into liquidation as market crash takes toll https://www.cnbc.com/2022/06/2...nto-liquidation.html Major cryptocurrency hedge fund Three Arrows Capital has fallen into liquidation, a person with knowledge of the matter told CNBC, marking one of the biggest casualties of the latest so-called “crypto winter.” Teneo has been brought on board in the last few days to deal with the liquidation process, the person, who requested anonymity because they were not authorized to discuss the matter publicly, said. _________________________ | |||
|
Member |
Try getting the silver dollar from the FedGov now. They reneged on their promise back in the 1960s.  --------------------- DJT-45/47 MAGA !!!!! "Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it." — Mark Twain “Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” — H. L. Mencken | |||
|
Member |
I saw an article, several months ago, about people selling gold to buy bitcoin. I just shook my head. Anyone that stupid deserves to be broke. | |||
|
Age Quod Agis |
Just checked Coinbase. Bitcoin is -5.24% in 24 hours, -6.82% in 7 days, -46.16% YTD and -72.53% from its all-time high. Trading activity on Coinbase 95% BUY and only 5% SELL. What a crazy market. "I vowed to myself to fight against evil more completely and more wholeheartedly than I ever did before. . . . That’s the only way to pay back part of that vast debt, to live up to and try to fulfill that tremendous obligation." Alfred Hornik, Sunday, December 2, 1945 to his family, on his continuing duty to others for surviving WW II. | |||
|
Still finding my way |
Crypto drops off dramatically every 4 years. Good time to buy in a bit and see if it clears $60k again. You could make a few thousand from a couple hundred. It's just as volatile as any other "currency" right now (how are your 401k's doing?) . | |||
|
"Member" |
My 401k? Just like my Bitcoin, non existent.  I did receive $300 in 12ga slugs and buckshot today, so my tangible assents are... heavy.  | |||
|
| Powered by Social Strata |
 | Please Wait. Your request is being processed... |
|
SIGforum.com Main Page The Lounge Another crypto lending platform is freezing withdrawals as the industry's downward spiral continues
Main Page The Lounge Another crypto lending platform is freezing withdrawals as the industry's downward spiral continues© SIGforum 2025