Crypto lender SALTLending has raised $64.4 million in a share sale, which will help the company resume operations after a suspended acquisition in November. BrandyBetz reports
SALT Lending has closed a $64.4 million Series A funding round from a share sale to accredited investors less than three months after its planned sale fell through due to the implosion of centralized crypto exchange FTX. SALT will use the capital toward new products and its growth strategy, according to a draft press release provided to CoinDesk.of SALT Lending after the latter informed customers it would pause withdrawals and deposits on its platform due to an unspecified exposure to FTX.
“Crypto faced a perfect winter storm in 2022, taking with it significant industry participants like Terraform Labs, Voyager Digital, Celsius Network, Three Arrows Capital, FTX, and BlockFi. SALT was not immune to these market forces, but we are determined to emerge stronger than ever,” said SALT founder and interim CEO Shawn Owen in a statement.
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