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Crypto’s Liquidity Troubles Are Spreading Across Platforms

Cryptocurrencies in the Czech Capital as Traders Assess Stablecoin Fallout
Photographer: Milan Jaros/Bloomberg
Updated on

A broad-based selloff in digital assets and the collapse of high-profile tokens TerraUSD and Luna have caused ripple effects across the crypto industry. 

A wave of liquidations triggered fear of contagion risks. Major lenders Celsius Network and Babel Finance have frozen withdrawals, and Three Arrows Capital, a major crypto hedge fund, is facing liquidity troubles that rattled investors.