BnkToTheFuture, a cryptocurrency crowdfunding platform, won't acquire SALT Blockchain since the cryptocurrency lending firm has position with collapsed crypto exchange FTX.
The firm said in a blog announcement that the move would not affect its business as it has no direct or indirect connection with SALT or FTX. BnkToTheFuture announced about its plans to purchase SALT Blockchain for an undisclosed price in September this year.
The parties were hoping to develop a "regulatory compliant solution for customers impacted by the current crypto lending crisis." BnkToTheFuture CEO, Simon Dixon, claimed that the deal would offer an option for distressed lending companies that "may not be able to come out of bankruptcy due to regulatory issues." BnkToTheFuture declined to elaborate on SALT's exposure to FTX.
