The crypto lender SALT, paused operations after taking a hit from the FTX bankruptcy. They have raised $64.4 million through fundraising and have resumed operations once again.
SALT stated that the funds will be used in funding their growth strategy and for the investment in to new products. The company is now on track to resume their normal day operations by the first quarter of 2023.
SALT believes this setback has opened up new opportunities for them and was a learning step, they plan to return stronger than ever.
Secured Automated Lending Technology—provides loans to borrowers by using cryptocurrency as collateral. SALT lending provides personal and business loans to their members who put up blockchain assets as collateral.