SALT Lending has closed a $64.4 million Series A funding round through a share sale to accredited investors, less than three months after its planned sale was cancelled due to the collapse of centralised cryptocurrency exchange FTX. According to a draught press release provided to CoinDesk, SALT will put the funds towards new products and its growth strategy. Bnk To The Future cancelled its planned acquisition of SALT Lending in November after the latter informed customers that it would halt withdrawals and deposits on its platform due to an unspecified exposure to FTX. SALT’s balance sheet and capital reserves were to be recapitalized with this new funding. SALT plans to resume full operations in the first quarter of this year, subject to regulatory approval.
Read more
