Crypto lending platform Salt has suspended withdrawals and deposits, according to a company email sent to customers.
“The FTX debacle has impacted our business,” the company said in a message attributed to CEO Shawn Owen. However, the full extent of the exposure was not revealed in the message.
"Until we can determine the extent of this impact, and we are confident that these details are factually accurate, we have suspended deposits and withdrawals on the SALT platform, effective immediately," Owen wrote.
Owen went on to write that the company is "working hard with our partners to ensure a clear path forward and plans to be as transparent as possible."
Salt is the latest cryptocurrency firm to reveal it has been negatively impacted by the collapse of FTX, which declared bankruptcy on Friday. Many cryptocurrency companies, including those in the trading and markets sectors, held funds on exchanges prior to their collapse.
Salt did not immediately respond.
