Babel Finance Taps Restructuring Adviser Amid Liquidity Crunch

Babel Finance, a Hong Kong-based cryptocurrency lender, is working with advisers at Houlihan Lokey to explore options amid liquidity strains, according to a person with knowledge of the matter.

The company has been in talks with large institutions about potential solutions that include setting up a new entity to take over some of its debt, as previously reported by Bloomberg. Babel, backed by Sequoia Capital China, had an outstanding loan balance of more than $3 billion at the end of 2021.

Babel last month joined troubled digital-asset lender Celsius Network in freezing withdrawals as cryptocurrency markets tumbled, telling ...