Bnk To The Future to Acquire Crypto Lender SALT in a Bid to Reshape Crypto Lending

DENVER, Sept. 6, 2022 /PRNewswire/ -- Bnk To The Future has entered into a non-binding letter of intent to acquire SALT. The move will combine the world's first Bitcoin and crypto securities business with the first crypto lending platform. Bnk To The Future and SALT have operated advanced securities and lending technology for over a decade combined and have extensive experience in their respective fields. The transactions described in the letter of intent are contingent upon signing definitive agreements and obtaining regulatory approvals.

The primary objective is to develop what we believe to be a regulatory compliant solution for customers impacted by the current crypto lending crisis. "We want to offer an option for distressed lending companies that may not be able to come out of bankruptcy due to regulatory issues. We have prior experience supporting our sector to recover swiftly with our involvement in the Bitfinex exchange hack recovery in 2016," said Simon Dixon, CEO & Co-Founder of Bnk To The Future. "Mt Gox took 8 years to resolve and depositors are just now seeing light at the end of the tunnel, whilst Bitfinex was recovered from disaster in less than a year after working on a recovery plan with Bnk To The Future. By combining securities and lending we believe we can attempt the same for distressed lending companies."

Having launched in 2016, SALT was among the first platforms to offer loans to holders of Bitcoin and has since been focused on securing additional lending licenses, and optimizing its lending technology and risk management operations. Over the last few years, the Company has built a full stack loan management and risk platform that manages complex crypto loans. 

Shawn Owen, Interim SALT CEO and board member added, "Never has the importance of leadership, regulations and over collateralization been more relevant in the crypto industry than right now, given the painful lessons of 2022's collapse. We see a time-sensitive threat to our sector, which could be an opportunity to help bring trust and hope back to so many who have been devastated by recent events, and a clear path towards a compliant business that we have been working on since late 2016."

This announcement may be the first in a series of announcements in which we aim to further Bnk To The Future's mission to offer investors access to financial innovation and alternative financial products in a compliant way. "We launched the first Bitcoin Bond in 2014. We launched Bitcoin mining backed securities in 2015. We participated in funding rounds and brought investments in shares of Kraken, BitStamp, Coinbase, Circle, Blockchain.com, Robinhood and many others to our investors. Now is the time for us to offer solutions to distressed lending platforms in compliance with securities and lending laws. Together we can continue to set the standard for registered crypto securities and lending platforms," concluded Dixon.

Bnk To The Future is a global Online Investment Platform allowing qualifying investors to build their investment portfolio in the equity of Crypto & FinTech companies, security tokens and other new alternative financial products like Bitcoin centered retirement plans. Bnk To The Future was the very first securities business in the crypto market, beginning shortly after Bitcoin in 2010 and now has a community of over 150,000+ qualified investors from all over the world who have invested over US$1bn in funding rounds listed on its online investment platform. US residents register with BMI Capital International LLC, a registered US broker-dealer with FINRA and member of SIPC. Bnk To The Future portfolio companies include Coinbase, Circle, Blockchain.com, Kraken, BitStamp, BitFinex, ShapeShift, BitPay, Ripple Labs and over 100 others. For more info visit https://BnkToTheFuture.com

Founded in 2016 and headquartered in Denver, SALT is the pioneer of crypto-backed lending. SALT's mission is to build and enable simple, familiar and novel crypto financial products that increase access to financial opportunities and give consumers more control over their ability to generate long-term wealth.

SALT's crypto lending products enable its users to seamlessly access credit against their crypto portfolios - while the Company's B2B Embedded Crypto Lending Service enables 3rd party platforms to offer these products to their users. For more information, visit www.saltlending.com or follow us on Twitter, Facebook and Medium

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding consummation of the proposed acquisition and expected benefits of the acquisition. Actual results could differ materially from those projected or forecast in the forward-looking statements. Factors that could cause actual results to differ materially include the following: the parties may not enter into a definitive agreement on the terms expected or at all, the conditions to the completion of the transaction may not be satisfied, or the regulatory approvals required for the transaction may not be obtained on the terms expected, on the anticipated schedule, or at all; closing of the transaction may not occur or may be delayed, either as a result of litigation related to the transaction or otherwise; the parties may be unable to achieve the anticipated benefits of the transaction; revenues following the transaction may be lower than expected; the duration and scope of the COVID-19 pandemic, including any recurrence, may affect the results of operations; operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, partners, and commercial counterparties) may be greater than expected; the parties may assume unexpected risks and liabilities; negotiating and completing the transaction may distract the parties' management from other important matters; and with respect to SALT the other factors discussed in "Risk Factors" in Salt's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and in Salt's other filings with the SEC, which are available at http://www.sec.gov. The parties assume no obligation to update the information in this press release, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

Frank Spence
[email protected] 
(415) 294-1157

SOURCE SALT

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