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Hong Kong cryptocurrency group Babel hits $2bn valuation

Unicorn raises $80m in latest funding despite global crypto rout

HONG KONG -- Hong Kong-based crypto financial services startup Babel Finance said Wednesday it has raised $80 million in its latest funding round, valuing the company at about $2 billion, despite a meltdown in digital currency markets.

Cryptocurrencies plunged into free fall as the price of Luna, one of the biggest, collapsed in a rout this month that triggered a $280 billion sell-off across dozens of digital units, including bitcoin and Ethereum.

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