{"id":64613,"date":"2022-07-19T18:07:44","date_gmt":"2022-07-19T15:07:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64613"},"modified":"2025-09-06T15:23:56","modified_gmt":"2025-09-06T12:23:56","slug":"babel-finance-hires-kirkland-celsius-network-and-voyager-digital-also-turn-to-the-firm","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/babel-finance-hires-kirkland-celsius-network-and-voyager-digital-also-turn-to-the-firm\/","title":{"rendered":"Babel Finance hires Kirkland & Ellis for restructuring; Celsius Network and Voyager Digital also turn to the firm"},"content":{"rendered":"

One of Asia’s largest crypto lenders, Babel Finance has engaged the law firm Kirkland & Ellis for restructuring advice, Bloomberg reports citing its own sources.<\/p>\n

Co-founder Flex Yang, who had stepped back from the business last year, has returned to oversee the process at Babel’s Hong Kong\u2013based operation.<\/p>\n

To assist, Kirkland & Ellis is also being used by the crisis-hit lending platform Celsius Network<\/a> and broker Voyager Digital. The law firm, with around 2,600 professionals, is regarded as a leader in asset recovery within its sector.<\/p>\n

\"Media:
Data: Wikipedia<\/a>.<\/figcaption><\/figure>\n

Earlier, Babel turned to Hulihan Lokey<\/a> to explore restructuring options.<\/p>\n

Earlier in June, the company announced the suspension of payments and withdrawals<\/a> from its own products due to liquidity shortages.<\/p>\n

Later, Babel representatives refuted insolvency reports<\/a> and said the firm had reached \u201cpreliminary agreements\u201d to pay part of its debts.<\/p>\n

In May, the firm closed a Series B financing round of $80 million at a $2 billion valuation<\/a>.<\/p>\n

Read ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of Asia’s largest crypto lenders, Babel Finance has engaged the law firm Kirkland & Ellis for restructuring advice, Bloomberg reports citing its own sources.<\/p>\n","protected":false},"author":1,"featured_media":64614,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2314,1300],"class_list":["post-64613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-babel-finance","tag-bankruptcy"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64613"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64613\/revisions"}],"predecessor-version":[{"id":64615,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64613\/revisions\/64615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64614"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}