Case summary
What happened
SALT offers loans secured by customer cryptocurrency. It paused withdrawals on 15 November 2022 and California suspended its lending license. A December 2024 consent order required borrower refunds, penalties, improved underwriting and disclosure practices, and procedures for closing or refinancing California loans. SALT states that its California license was reinstated effective 15 January 2025, and current first-party materials describe active loan and collateral-withdrawal functions.
Customer result
Customer outcome
Not applicable
SALT is tracked as an active comparator with a historical withdrawal pause and borrower settlement, not as a platform-wide insolvency claims process.
- Estimated recovery
- Not applicable
- Repayment started
- —
- Repayment completed
- —
- Confidence
- High
Asset treatment
Terms risk
Varies by product
Product-dependent classification is used because collateral rights and withdrawal conditions vary by loan agreement and regulatory resolution.
- Affected product
- SALT crypto-backed loans and collateral
- Confidence
- High
SALT borrower assets served as collateral for outstanding loans. Withdrawal and return depended on repayment, refinancing, loan-to-value conditions and jurisdiction-specific settlement terms.
Known unknowns
Uncertainty
The 2016 launch date is year-level. Product availability and licensing vary by jurisdiction. The 2022 pause was not a company-wide bankruptcy.
Chronology
Historical record
SALT Lending begins operating
SALT developed a platform for loans secured by customer cryptocurrency collateral.
Launch date is recorded at year-level.
SEC settles SALT token offering case
The SEC entered a settled order concerning SALT Blockchain's unregistered digital-asset token offering.
This event concerns the SALT token offering, not a borrower insolvency or collateral-loss finding.
SALT pauses platform withdrawals
SALT told customers that the FTX collapse had affected its business and paused client withdrawals while limiting platform activity.
The pause did not become a Chapter 11 or liquidation proceeding.
California suspends SALT lending license
California's DFPI suspended SALT Lending's financing license pending investigation after the customer withdrawal pause.
The action was jurisdiction-specific and tied to the November 2022 platform restrictions.
SALT reaches California borrower settlement
SALT agreed to approximately $162,800 in borrower refunds, penalties, underwriting improvements, risk disclosures and procedures for closing or refinancing California loans.
The settlement addressed California loans and does not represent a universal platform-wide recovery process.
SALT California license is reinstated
SALT stated that its California Financing Law license was reinstated and provided payoff, refinance, refund and collateral-return procedures for affected borrowers.
Current first-party website and help materials support continued lending and collateral-management operations.
Source record
Evidence dossier
Filter by claim, reliability, source type, and whether evidence is linked to a specific event.
customer outcome
1 sourcesDFPI secures SALT borrower refunds and penalties
California Department of Financial Protection and Innovation · 2024-12-23
Official summary of borrower refunds, penalties and consumer-protection requirements.
Entity
1 sourcesSALT Lending official website
SALT Lending
Current first-party source for platform identity and active crypto-backed lending services.
Event
3 sourcesSALT California DFPI notice
SALT Lending · 2025-01-15
First-party notice identifies 15 November 2022 as the date withdrawals were paused.
SEC order concerning SALT token offering
U.S. Securities and Exchange Commission · 2020-09-30
Official order concerning the token offering, separate from borrower-collateral operations.
DFPI suspends SALT financing license
California Department of Financial Protection and Innovation · 2022-11-21
Official notice records SALT's 15 November withdrawal pause and FTX-related business impact.
status
3 sourcesSALT California license reinstatement notice
SALT Lending · 2025-01-15
First-party notice states that the California lending license was reinstated effective 15 January 2025.
How to withdraw SALT collateral
SALT Lending
Current help material describes active collateral-withdrawal functionality.
DFPI suspends SALT financing license
California Department of Financial Protection and Innovation · 2022-11-21
Primary source for the California license suspension.
terms risk
1 sourcesSALT Lending consent order
California Department of Financial Protection and Innovation · 2024-12-23
Primary settlement document for California borrower treatment and license conditions.
url history
1 sourcesSALT Lending website archive captures
Internet Archive
Historical captures support the platform's operating history.
No evidence records match the current filters.
Comparative records