The SEC has granted SALT a 75-day extension on our Form 10 filing deadline — an option that was included in the original SEC order. As a result of this extension, the Claim Form for purchasers of the SALT Token (applicable to those who purchased SALT Tokens directly from the SALT before and including December 31, 2019) will be available 60 days after the date of the filing of the 1934 Act Registration (or on the date seven (7) days after the 1934 Act Registration becomes effective, whichever date is sooner).
This means the form will be available sometime during or before July 2021. For additional information about the claims procedure see the original SEC order.
In light of the uncertainty created by the recent SEC complaint involving Ripple/XRP, we are pausing support for all new XRP deposits on our platform.
Withdrawals of XRP will still be enabled for all users.
If you have any questions about your loan secured by XRP, reply to this email or contact firstname.lastname@example.org.
I’ve Been Stabilized. What’s Next?
When your Loan-to-Value ratio (LTV) exceeds 90.91%, we stabilize your loan by converting all of your volatile assets into stablecoin (USDC).
At this point, you will notice that your USDC wallet reflects the total US Dollar value of your combined portfolio. Each collateral wallet balance will show $0. Don’t panic!
How do I convert back to my original assets?
Salt has cooperated with the SEC and has been working toward a settlement for many months. Now that we have reached a settlement with the SEC, we plans to expand our product offerings to include products focused on asset management and the preservation of wealth.
We recently released a new stabilization product that enables users to preserve the value of their portfolio in the event of a market downturn and are looking forward to offering additional products design to help our customers build and preserve their wealth.
For those of you who hold SALT and wish to use it on our platform, you can still use SALT to lower your interest rate or use as collateral for your crypto-backed loan, as well as use it to pay fees and interest.
Anyone who bought SALT from us directly before and including 12/31/2019 will have an opportunity to submit a written claim to recover the consideration paid plus interest. Any income already received on the token will be deducted from the refund amount. If the purchaser no longer owns the SALT Token, then they can apply to recover damages. We're in the early stages of registering the token with the SEC. Once that process is complete we will provide a claim form for direct purchasers to complete. We expect that form to be available in the early part of 2021.
SALT is proud to announce De’Alsha Diamond as the recipient of the 2020 SALT Opportunity Scholarship & Internship. The program is part of SALT’s commitment to diversity and is intended to provide educational and work experience opportunities while helping remove financial barriers for those who have been underrepresented in the STEM fields and FinTech industry.
We’re excited to announce that Justin English has been named chief executive officer at Salt Blockchain Inc., parent company to SALT Lending. Co-presidents Rob Odell and Dustin Hull, who have been working together for the past six months to fill the CEO role and onboard English, will remain co-presidents and will continue to support SALT in their respective roles as chief product officer and chief financial officer.
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