SALT CEO Bill Sinclair responds to Binance delisting

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Binance announced yesterday that it delisted SALT Memberships from its asset exchange. Binance’s announcement and action came as a surprise to SALT as we did not receive any information requests or opportunity to refute the inferences in Binance’s announcement. SALT adamantly objects to Binance’s announcement which provides the basis for which it delists a token but does not make any specific allegation against the list of companies, thus creating false negative implications.

Binance has not requested any information from SALT to enable Binance to make a decision relating to its now publicly listed criteria and acted irresponsibly in insinuating that any of the criteria is true of SALT.

SALT would like to take the opportunity to reaffirm our commitment to you, our products, and the blockchain industry. We sell SALT Membership units and offer refunds when they are purchased directly from us and not removed from our platform. This has been the preferred method of buying our Membership units since inception. A number of exchanges, including Binance, have made hundreds of thousands of dollars in fees by reselling our Membership units. SALT has never profited directly from any third party exchange activities. SALT Membership units have always been the primary vehicle for utility on our platform and we are committed to the expansion of this utility as our business grows. Today there are millions of SALT Membership units held on our platform by thousands of members.

SALT is a team of over 70 passionate, dedicated employees and professionals around the globe. We are proud to have the best customer support team in the business responding to phone, email and social media requests around the clock. Among our many employees is our talented and dedicated team of developers who have committed over 18,277,688 lines of code across dozens of software services in the year 2018 alone.

Additionally, SALT is continually enhancing its communication and today operates through a number of public channels including the following:

SALT has not and does not engage in fraudulent or unethical activity nor have we suggested publicly, without evidence or context, that any other company has done so. Binance never responsibly contacted SALT regarding any due diligence inquiries.

SALT is committed to responsible business practices. We pride ourselves on engaging with our customers, partners, regulators, and the media when it comes to requests for information.

We are dedicated to advancing blockchain technology and to building a healthy and sustainable crypto ecosystem. Two of our co-founders serve as members and advisors to groups that share a similar goal. These include the Organisation for Economic Co-operation and Development (OECD) and the Colorado Council for the Advancement of Blockchain Technology, created by Governor Hickenlooper. Additionally, we are an active member of The Digital Chamber of Commerce and frequently sponsor events that drive awareness and adoption of blockchain technology globally such as the Asia Blockchain Week, North American Bitcoin Conference and ETHDenver.

At SALT, we define success not by the number of exchanges on which we are listed, but by our efforts to help shape this new economy. We remain focused on product development and driving awareness and adoption of blockchain technology. Our goal is to provide our customers with the products and services they need to participate in the blockchain space. One of our core values, integrity, is matched only by another of our core values, grit. We will continue to work tirelessly to deliver outstanding products and services, and will not be moved off that mark by anyone, for any reason.

Thank you for your continued support, as together we remain focused on building a successful software services and lending enterprise.

Bill Sinclair

Interim President & CEO and Chief Technology Officer

SALT

Pass the SALT, Grow Your Wallet

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Love SALT? Tell your friends about us! Many of you have already been spreading the word about SALT and have helped us grow our community (Thank you!). That’s why starting today, we’re offering $50 in Bitcoin to you and your friends when they take out a Blockchain-Backed Loan™.

How does it work exactly? Like this:

Step 1: Log in to your SALT account to access your unique referral code

Step 2: Share it with the world

If you don’t already have an account, sign up today to get your code and start growing your wallet.

Just share your code or link with your friends via email or use the hashtag #PassTheSALT to share it with your Twitter community — as soon as someone achieves an active loan status using your referral code, you’ll both receive $50 in Bitcoin from SALT. It’s that simple.

SALT: A Better Way to Unleash the Value of Your Blockchain Assets

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There are a lot of loan offerings out there for blockchain assets, but none of them are quite like SALT.

Let us tell you why.

At SALT our guiding principle is to put you first — and that means offering more than just Blockchain-Backed Loans™. We strive to offer the highest level of service and security because we’re committed not only to helping you make the most of your digital assets, but to helping you keep them safe.

Here are a few ways we’re staying true to that commitment through our offerings.

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Security is imperative when it comes to maintaining safe custody of your assets and it’s a top priority at SALT. Here are just a few features we have developed to ensure the safety of you and your assets:

· Offline storage and generation of all platform wallet keys — plus, our key management controls are CryptoCurrency Security Standards (CCSS) compliant

· Multi-signature wallet protection — requires multiple independent signers to access funds

· Multi-factor enrollment required and user passwords protected by SHA256

· TLS (SSL) protection for all website traffic with industry-standard RSA 2018 encryption

· Ongoing third-party penetration testing and platform assessment

· Multiple layers of network and application firewalling

Aside from the above, one of the features that sets us apart from other lenders is that we don’t commingle your assets. Instead we create a unique multi-signature wallet for each of you, as well as for each individual collateral type you put onto the SALT platform — an added layer of security given your assets are never pooled with the rest of the user base.

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What better way to track your assets than to know exactly where they stand?

At SALT, we believe in transparency, which is why we’ve built technology that enables us to track the values of multiple collateral types from multiple exchanges by calculating the volume weighted average. With the ability to pull this data in near-real time, we can provide the most stable as possible price of your collateral to protect it in the event of an exchange experiencing issues. Because of this technology, we’ve also been able to develop a near real-time Loan-to-Value (LTV) monitoring system. These capabilities combined allow us to provide you with the information necessary for you to simultaneously track your loan health and portfolio value at any time. Even when you aren’t tracking these items on your own, our automated notification system helps keep you up-to-date via phone, text and email so you’re alerted if and when your collateral declines in value.

Additionally, as mentioned previously, we refrain from commingling your assets — a major benefit given you can rest assured that your assets aren’t being mixed in with anyone else’s and that they’re verifiable independent of the SALT platform.

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We want to help you maximize the potential of your blockchain assets and work with you to accomplish your goals. Not only do we offer a quick, simple process for securing a loan, but we’re able to deposit funds into your account as quickly as you’re able to complete the loan process. Simply customize your loan options, apply for a loan, and then transfer your chosen collateral types to the SALT platform, and once your application is approved, we’ll drop the requested funds into your bank account.

Aside from a fast turnaround time and ease of use, there are a few other points to keep in mind about how we do (and don’t do) business.

We DO:

· Currently offer 4 collateral types — Bitcoin, Ethereum, Litecoin, and Dogecoin

· Offer the option to combine collateral types to secure a loan

· Offer flexible loan terms with a variety of APR and loan term duration options

· Lend in multiple jurisdictions around the world, with more expansions coming soon

· Help you secure the best loan terms for you depending on your location and needs

We DON’T:

· Charge origination fees

· Charge prepayment fees

· Run credit checks

· Commingle your assetsImage for post

Navigating the lending landscape — whether it be in the traditional or blockchain sense — can be tricky and confusing, which is why we connect you with a dedicated professional throughout your entire journey with us.

Sign up – once you become a SALT member, we provide you with direct access to experts who can answer your questions and guide you through our platform and offerings — with offices in the Philippines, Mauritius, and Denver, we offer global support that you can either access online 24/7 or via phone during business hours

Borrow – once you become a SALT borrower, we assign a dedicated lending associate to each customer to guide them through the underwriting process; once the loan is funded we assign a Member Success Advocate to be your primary point of contact regarding your relationship with us

Once you sign up, we provide you with access to 24/7 online support followed by access to seasoned lending professionals and a dedicated underwriter throughout your entire journey with us from membership to borrowing. Whether you want to speak with someone via phone during business hours or access online support at any point in the week, you can take comfort in knowing there’s a person who’s dedicated to answering your questions quickly and personably.

At SALT, we operate with a customer-first mindset because you’re the reason we come to work each day. As we seek to add new collateral types, platform features, and lendable jurisdictions, we remain focused — focused on our vision, our contribution to the advancement of blockchain technology, and most importantly on our commitment to helping you unleash the power of your blockchain assets.

To stay in the loop about what’s new at SALT, follow us on TwitterFacebookLinkedIn or Telegram.

Sign up to receive updates and announcements from SALT.

Getting to Know SALT’s Interim President and CEO Bill Sinclair

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As SALT approaches its upcoming announcement, this is a great time to get to know interim President and CEO Bill Sinclair. Bill brings more than 20 years of experience in software and technology development, and will apply that knowhow to SALT’s future as a visionary fintech company with a strong focus on security and scalability.

Bill led technology strategies at fast-growing companies in the financial services, energy and Internet of things (IoT) industries. As CTO of Cartasite, an industrial IoT company, he enhanced and expanded the company’s product development team. Prior, Bill led the growth and acquisition of MineralFile.

“I’m looking forward to building a bridge of continued innovation between traditional financial services and blockchain,” Bill shared. “It’s been a pleasure to work with such smart and dedicated people, and we’re just getting started.”

Bill has been a believer in the potential of blockchain technology for some time, and became very engaged with bitcoin in 2014. He first got into mining using an ASIC Miner he purchased on eBay. “I could only run it at night,” Bill laughed. “It made a ton of noise. You couldn’t even have a conversation in the same room with it.”

His interests have not been exclusively focused on blockchain. Bill has a strong philanthropic core, having served as a board member of We Don’t Waste, a food waste related charity organization founded in 2009. “I feel like the underbanked and food insecure have a lot in common, with both suffering from a lack of access to resources,” said Sinclair. He also helped found the BroncosBus, a philanthropic endeavor which helped raise money for a number of local and national charities.

Bill is a native of Colorado and lives in the Denver area with his family and their three-legged St. Bernard, Molly (who lost one of her legs to a rare cancer). “I inherited her through marriage and was allergic to big hairy dogs, but she was determined to rid me of my allergy by sleeping on my head nightly. Turns out I’m not allergic to her anymore!”

SALT is proud to have Bill serving as Interim President and CEO, and looks forward to sharing more insights about those leading the charge of disruption.