Babel's Yang Zhou Recalls the 2022 Crypto Crisis:From Luna to FTX, a Storm That Swept Away Everything
Editor | WuBlockchain Babel Finance was a leader in cryptocurrency lending and wealth management. During the market crash on March 12, 2020 (also known as 312), Babel nearly went bankrupt due to its high-risk operational model but was rescued by Tether’s leniency and the subsequent market recovery. On May 26, 2022, Babel announced the completion of its Series B financing, raising $80 million at a valuation of $2 billion, officially becoming a unicorn. However, on June 17, 2022, Babel informed its partners: “We are insolvent.” The official website then suspended product redemptions and withdrawals. Yang Zhou is a co-founder of Babel Finance but largely exited the company in 2021. The interviewer in the video is Bill. Please subscribe to Bill’s personal Youtube channel and Xiaoyuzhou. WuBlockchain authorized the reprint and publication of this content. Background information: Previous article: Investigation into Babel Finance’s Business Model: Why Did it Collapse Two Years Ago on March 1...