SALT Lending, a crypto-lending platform, raised USD 64.4 million in Series A funding via share sale to several unnamed investors. 

SALT plans to use the funds to add new products to the platform and support its growth strategy. Most importantly, the funding will help to recapitalize SALT’s balance sheet and capital reserves so that it can resume its full operations during the first quarter of this year. 

Analyst QuickTake: Last year’s collapse of FTX caused a ripple effect across the DeFi industry, with many protocols facing issues related to their exposure to the platform. This list includes Serum , a decentralized crypto-exchange that ceased operations , and Blockfi , which filed for bankruptcy (both events happened in November). During that same period, BnkToTheFuture—an online investing platform that had entered an agreement to acquire SALT—terminated its plan after the latter froze withdrawals and deposits on the platform due to its unspecified exposure to FTX.