Crypto Lender Salt Stops Withdrawals Due To The Impact Of The FTX

A business email sent to customers by the cryptocurrency lending platform Salt states that withdrawals and deposits have been suspended.

The company claimed in a statement attributed to CEO Shawn Owen that “the collapse of FTX has damaged our business,” but did not specify the full scope of the risk.

“Until we are able to determine the extent of this impact with specific details that we feel confident are factually accurate, we have paused deposits and withdrawals on the SALT platform effective immediately,” Owen wrote.

Owen went on to write that the company is “working diligently with our partners to secure a clear path forward and plan to be as transparent as possible.”

The latest cryptocurrency company to admit that the failure of FTX, which on Friday filed bankruptcy, had a detrimental impact on it is Salt. Before the exchange went under, many cryptocurrency businesses, including those in the trading and markets industry, had money on it.

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