Bnk To The Future & Recap Integration Announcement: Private Equity, Public Shares & Virtual Assets Tax Calculation, Data Collection & Reporting

Bnk To The Future is pleased to announce that we have deeply integrated & partnered with privacy-centric Bitcoin & crypto tax platform Recap to simplify the complexities of Private Equity, public Shares as well as Bitcoin & Virtual Assets tax calculation, data collection & reporting to make your life easier.

Recap has integrated with Bnk To The Future to simplify tax calculations for your virtual assets (Bitcoin, ETH, USDT, etc.), Public Shares, and Private Equity. Upon signing up for Recap, users can link their Bnk To The Future account to monitor each transaction securely, manage their virtual assets, Public Shares, and Private Equity data all while streamlining the tax reporting process.

* Disclaimer: The information provided in this content does not constitute tax advice and should not be taken as such. Both Recap and Bnk To The Future explicitly do not endorse each other for tax advice. If you have any uncertainties regarding financial or tax-related matters, it is strongly recommended to consult with a qualified tax professional. Additionally, Recap features allow for the sharing of information with accountants and professional advisors for further assistance.

Connecting your Bnk To The Future account to Recap is FREE of charge. Should you wish to connect your account, please use the following affiliate link: https://recap.io/integrations/bnktothefuture.

Recap offers you the option to upgrade to a paid account to unlock additional features. Your decision to upgrade is entirely voluntary, and we encourage you to explore the benefits at your own pace.

In the event that you decide to upgrade your account through this affiliate link, it’s important to note that Bnk To The Future will receive a commission, payable by Recap. This commission serves as a token of appreciation from Recap for the referral.

Your data is stored on your device and encrypted with your keys meaning Recap have no way to get your data and no way to read it.

Below is a step by step guide to get started:

Step 1: Visit Recap Website.

This URL will take you will take you to Recap’s webpage which is titled “How To Calculate Your Bnk To The Future Crypto Taxes”: https://recap.io/integrations/bnktothefuture

Locate and select the Get Started button.

Step 2: Please Enter a Valid Email Address and Create a New Password.

To proceed, input a valid email address, then generate a password. Click “Continue” once finished. Please adhere to the password creation instructions provided. Refer to the screenshot below for guidance.

NOTE: It DOES NOT NEED to match your login email address on Bnk To The Future.

Step 3: Tap the “Get Started” Button on the Welcome Screen.

Upon reaching the Welcome screen, locate and tap the “Get Started” button. Verify your successful login by observing your email address displayed in the top right corner, accompanied by a logout link. Press the “Get Started” button when prepared to proceed.

Step 4: Verify Your Email Address.

The next step involves verifying your email address. On the webpage, you will find the message: “Verify your email address. Please follow the instructions in the verification email we’ve sent to…”. Your email address will be displayed. Proceed to your email inbox to check for the email verification link from Recap. Additionally, note the “Awaiting Verification” graphic on the screen. If you cannot find the verification email, you can use the “Resend email” link located on the same page, as shown in the screenshot below with an arrow pointing to it.

4.1 Check Your Email Inbox for Two Emails from Recap.

Please go to your email inbox to confirm if you have received two emails from Recap. Look for the subject line that reads: “Please verify your email address.” Open the emails when you are ready.

The second email will have the subject line: “Welcome to Recap, the simple way to do your crypto taxes.” You can revisit this email once you have successfully created your Recap account. If you cannot find it check your Spam / Junk mail too.

4.2 Click the “Verify Your Email Address” Button.

Look for an email sent from [email protected]. Its contents will include the message: “Verify your email address. In order to start using your Recap account, you need to confirm your email.” Within the email, you will find a button labeled “Verify Your Email Address”. Click on this button when you are prepared to verify your email address.

If you cannot locate the button, there will be a sentence that says, “If you’re having trouble with the button above, copy and paste the URL below into your web browser.” Following this sentence, you will find a unique link for you to click on to verify your email address.

Please refer to the screenshot below for visual guidance.

Step 5: Hit The Back To Recap Button.

Press the “Back to Recap” button after verifying your email address by clicking on the “Verify Email Address” button in the email sent by Recap. Upon doing so, you’ll be directed to a page confirming your email verification with the message: “Email Verification. Your Email was verified. You Can continue using the application.” Ensure your email address is valid to view this message.

Step 6: Secure Your Secret Phrase.

Recap introduces self-custody features akin to those found in hardware wallets, granting you exclusive access and backup control over your accounting data.

To safeguard against future cyber threats, it’s essential to prioritize actions like preserving your secret phrase.

Upon verification, you’ll be directed to a page displaying your secret phrase. This page prompts you to store your secret phrase in a secure and private location. The message reads:

“Save your secret phrase. Keep these 12 words or recovery kit in a confidential and secure place. This phrase serves as the encryption key for your data. It may be required for logging into your account or signing in on new devices. Note that we are unable to
retrieve this phrase for you if it’s lost.”

Below the instruction, you’ll find a box revealing your secret phrase. Additionally, there are two buttons allowing you to either “Copy to Clipboard” or “Save Recovery Kit.”

Selecting “Copy to Clipboard” enables you to paste the phrase into any application, ensuring its secrecy. Conversely, opting to “Save Recovery Kit” may prompt a browser pop-up requesting permission to download the file from “app.recap.io.” You can either proceed by clicking “Allow” or decline by selecting “Cancel,” depending on your preference.

Once saved, check the box confirming, “I have saved my secret phrase or recovery kit,” and proceed by clicking “Continue” when ready.

When you click the “Save Recovery Kit” button, a file will be downloaded to your computer’s local drive. The downloaded file will resemble the screenshot provided below.

Step 7: Choose Your Account Type.

After proceeding, the following screen titled “Choose Your Account Type” will appear. You’ll encounter two options: “Personal” or “Agent.” The “Agent” option is typically chosen by accountants who handle tax matters for multiple clients. Conversely, “Personal” is intended for individuals or organizations managing their own tax affairs. Please choose the option that aligns with your situation and click “Continue” when ready.

It’s important to note that if you select “Agent,” Recap exclusively supports UK companies, meaning it adheres strictly to UK tax regulations. Currently, Recap does not comply with tax regulations outside of the UK. It can still be used to organize your data for tax in most major fiat currencies though.

Step 8: Congratulations!

You’ve reached the final step. You’ll now be directed to a page confirming that your Recap account setup is complete. Simply click the “Open Recap” button to begin exploring your account.

Step 9: Connecting Your Accounts.

Upon clicking the “Open Recap” button, you’ll be directed to a page presenting a “Let’s Get Started” guide. You have the option to either proceed by clicking the “Let’s Get Started” button or skip this step by clicking the “X” button located in the top right corner. For now, we recommend clicking the “X” button to skip this step. (see screenshot below).

Step 10: Press the “Add Account” Button.

Upon creating your Recap account, you’ll notice that the screen displays “No Accounts – Get started by adding an account.” Recap needs access to all accounting information associated with your Bnk To The Future account. You can also add all your other crypto accounts if you choose. Recap has collaborated with Bnk To The Future to develop an automated integration, enabling you to seamlessly import all your Bnk To The Future transactions into Recap.

When you’re prepared, simply click the “Add Account” button to proceed.

Step 11: Select Account Type: Exchange API.

Recap requires access to all accounting information related to your crypto accounts.
The next page will display four account type options. Please select “Exchange API” and click the “Next” button when ready.

Step 12: Add Exchange API Account: Bnk To The Future.

You are now presented with the option to “Choose an Exchange,” showcasing a list of APIs. Locate Bnk To The Future in the list, select it, and then proceed by clicking the “Next” button.

Step 13: Name Your Account: Bnk To The Future.

You can personalize your account by giving it a name. We recommend naming it “Bnk To The Future.” When you’re done, click “Next” to proceed.

Step 14: Notice of Limitations.

You’re about to encounter a screen titled “Notice of Limitations,” which outlines how Recap processes data classifications. Please review this information carefully, and when you’re ready to proceed, click the “Next” button to advance to the next step.

Step 15: Enter Your API Credentials.

This is the stage where you link your Recap account to your Bnk To The Future account. This connection is established by generating a Read-Only API Key on the Bnk To The Future website. It’s important to note that this API Key does not grant Recap any permission to sell or control your crypto assets on Bnk To The Future. Its sole purpose is to allow Recap to pull the accounting history from your Bnk To The Future account.

Once generated, the API Key from your Bnk To The Future account is a one-time setup. You won’t need to repeat this process in the future. When you add the API key (refer to the screenshot below), it establishes a real-time connection. This means that your Recap account will update in real-time, reflecting any transactions made on your Bnk To The Future account, with an approximate 30-second delay for each transaction.

It’s crucial to keep your API key secure. Under no circumstances should you allow anyone, especially hackers, to access your API key.

Rest assured, once you’ve copied and pasted your API key into Recap, it is securely stored. If you suspect your API key has been compromised, you can revoke it within your Bnk To The Future account by clicking on the “Revoke API Key” link located underneath where the API key is generated. In such a scenario, you’ll need to generate a new API key and repeat the process.

15.1: Open a New Browser Tab and Log into Your Bnk To The Future Account to Generate an API Key.

Please open a new tab in your web browser and log into your Bnk To The Future account. From there, you’ll be able to generate an API Key.

15.2: Enter your Authenticator Code.

To proceed, please ensure you have authentication apps such as Google Authenticator installed. If you haven’t set up Two-Factor Authentication (2FA) on your Bnk To The Future account, you’ll need to do so by navigating to the security tab of your account and configuring 2FA. Alternatively, you can use your backup codes (refer to the link provided in the screenshot below).

15.3 After logging into your Bnk To The Future account, navigate to the “Account” tab (refer to the screenshot below).

15.4 Scroll down to API Management and hit the button “Generate a View only API key”.

When you are in the Account tab section of your Bnk To The Future account, scroll down to the API management section where you will be able to see a Generate a View only API key button.

You will notice Recap’s logo and a bit of information which reads: Bnk To The Future has partnered with Recap so that you can connect your BF account seamlessly with Recap in order to generate your Crypto tax reports in an instant. Click here if you don’t have an account.

If you’ve never generated an API key you will notice to the left of the button (Generate a View only API Key) that it reads: No Generated API yet. This will change the minute you hit the Generate a View only API key button.

15.5 Copy the API key to Clipboard.

After clicking the “Generate a View-Only API Key” button, the API Key will be instantly generated and displayed to the left of the button. For security reasons, the API key will be hidden as sensitive information. The button will be grayed out, indicating that you cannot generate another key unless you revoke the current API key (see arrow pointing towards the link in the screenshot below).

To copy the API key to the clipboard, you have two options:

Click the copy button (see arrow pointing towards the button in the screenshot below).
Alternatively, you can simply highlight the API Read-Only generated key within the field to the left of the button (see screenshot below).

15.6 Paste the Generated API Key into Recap.

Return to your Recap tab in your browser. Paste the Read-Only Generated API Key into the designated API Key field (refer to the screenshot below). Once done, click the “Next” button to proceed.

Step 16: Please wait while Recap pulls in your accounting data into your Recap account.

Please wait while Recap pulls in your accounting data into your Recap account. This process may be as quick as 30 seconds.

Under the “Account” tab in Recap, you should now see the connected account listed as “Bnk To The Future.”

Recap is currently syncing the accounting data, indicated by the value showing as £0.00 and the status message “Syncing now.” You’ll also notice a spinning circle symbol indicating the syncing process. At the bottom right corner of your screen, a notification should pop up confirming “Successfully added exchange account: Bnk To the Future.”

Step 17: Your Bnk To The Future Account is Now Linked to Your Recap Account.

Your Bnk To The Future account is now officially connected and synced with your Recap account. Everything is up to date and updating in real-time, requiring no further action from your end.

You should now be able to view the number of transactions made since you created your Bnk To The Future account (indicated by the arrow pointing to transactions). Additionally, you’ll see the current value of your Bnk To The Future account.

For detailed information regarding your Bnk To The Future account, simply click on the connected exchange account, “Bnk To The Future.”

Step 18: Take A Moment To Review Your Bnk To The Future Accounting Data In Your Recap Account.

Take a moment to review your past investments and any virtual assets you may own, such as Bitcoin and ETH. Congratulations! You’ve successfully linked your Recap account to your Bnk To The Future account.

When upgrading your Recap account for tax reporting, remember to utilize the coupon code found beneath your API key within your Bnk To The Future account. Additionally, if you time-lock stake your ETH on Bnk To The Future, you can unlock a more significant discount coupon code.

If you wish to discuss upgrading your Recap account or any Recap account support related issues, please log into your Recap account. Click on the “Chat with us” option located at the bottom left of your Recap dashboard. A chat feature will appear in the bottom right corner of your screen, allowing you to connect with the Recap support team and receive assistance promptly. If you’re unable to locate the chat option, please refer to the screenshot provided for visual guidance.

PRESS RELEASE: Bnk To The Future Approved To Offer Non-High Net Worth Securities Brokerage Services

FOR IMMEDIATE RELEASE
PRESS RELEASE DATE: Thursday, 19th October 2023
COUNTRY: Mauritius

A new addition to the Bnk To The Future Group, BF Global IB MU, has secured an Investment Dealer license (Full Service Dealer, Excluding Underwriting) from the Financial Services Commission (FSC) in Mauritius (License Number GB22201273). This expansion brings its investment platform to Non–High–Net–Worth (Non–HNW) Investors outside of the United States.

Bnk To The Future, who is one of the longest–standing Bitcoin and Crypto companies and one of the world’s first regulated crypto securities businesses, is delighted to announce that its subsidiary has successfully secured its Investment Dealer license, to act as a Full Service Dealer, Excluding Underwriting, with the Financial Services Commission in Mauritius under the name BF Global IB MU and License Number GB22201273.

This pivotal development allows the company to extend its services to qualifying Non–High–Net Worth investors, enabling them to participate in a range of investment opportunities previously only available to High–Net Worth (HNW) investors.

With the newly acquired Investment Dealer (Full Service Dealer, Excluding Underwriting) license, BF Global IB MU will be able to:
• Execute orders and engage in the business of buying and selling securities on behalf of its clients;
• Act as a broker–dealer company, engaging in the business of buying and selling securities on behalf of its clients;
• Manage portfolios for clients

The key products (securities) on offer includes but are not limited to:
• Public Shares e.g. NASDAQ listed companies;
• Options & CFDs on Currency Pairs, Equity Indices, Metals, Commodities, CFD on Crypto; and
• Deliverable Securities.

With the addition of BF Global IB MU to the Group, in 2024, Bnk To The Future is poised to open up three distinct services to a wider investor base:
• Buying and Selling of shares in Public Companies: Non–HNW investors will be able to access the platform to invest in the shares of leading companies. As more and more Bnk To The Future portfolio companies go public you can hold and sell them from within your account.

• Expanded Access to our Portfolio Builder Service: Bnk To The Future’s Portfolio Builder service will be available to a broader range of investors, offering them the ability to create portfolios tailored to their investment goals and risk appetite bespoke to our sector all within in a asset protection retirement structure.

• Increased Accessibility to Private Equity through our Private Client Markets: Bnk To The Future’s primary and secondary private client markets will be accessible to a wider range of qualifying investors. This expansion allows qualifying individuals to participate in private equity investments.

This milestone achievement is a testament to Bnk To The Future’s commitment to staying ahead of evolving regulatory frameworks. While many other companies in the industry are facing increased scrutiny and regulatory challenges, Bnk To The Future has proactively navigated the complex landscape to ensure compliance while providing its clients with innovative investment solutions.

Simon Dixon, CEO and Co–founder of Bnk To The Future, expressed his excitement about the company’s latest accomplishment, stating:

“We are thrilled to secure our retail securities Investment Dealer (Full Service Dealer, Excluding Underwriting) license with the FSC in Mauritius, enabling us to extend our services to Non–HNW investors. At Bnk To The Future, we have always been at the forefront of the Bitcoin and crypto industry and crypto related securities trading industries, leading the way in terms of compliance and regulation. This license represents a significant step forward in our mission to democratize access to innovative securities.”

Risk Disclaimer

Investing in public and private company shares carries inherent risks that should be carefully evaluated. Market volatility can lead to fluctuations in share values, and company–specific factors can impact performance. For private companies most companies may not be successful, reach an exit or go public. Liquidity is not assured, and regulatory changes may influence outcomes. Prior to investing, do your own research on the company in question, consult qualified advisors in order to assess your individual circumstances and understand the potential risks involved.

Investments may be subject to exchange rate fluctuations that may cause an impact on the price of an investment and its return. Tax liabilities are solely the responsibility of the investor therefore an investor should seek professional advice on tax liabilities based on the investments made and should understand that tax may reduce the return of an investment. Once an investment in equity or order to buy or sell equity has been made, there is no right to receive a refund or a cooling off period.

This press release has not been endorsed by the Financial Services Commission of Mauritius.

You may print a copy of this press release via our blog at https://bnktothefuture.com/blog/. BF Global IB MU is not licensed to provide virtual asset services. All services in relation to virtual assets are provided by BF Virtual Assets in the British Virgin Islands.

For more information about Bnk To The Future group of companies and its newly expanded services, please visit the official website at www.bnktothefuture.com

5 Important Announcements Video Message From Our CEO

Dear Wealth Builders and BF Members,

We wanted to bring to your attention a recent video message from our CEO, Simon Dixon, in which he covers a range of significant updates and decisions that will impact you as a BF member or prospective investor.
In the video, Simon provides key insights into several critical topics, including:

– New regulations from the Securities and Exchange Commission (SEC) in the US and what they mean for our platform;
– Service updates for our US investors;
– Our application for additional licences to take on retail investors;
– Update on raising finance for companies on our platform;
– Our focus on building the best Bitcoin-centered Wealth Building Solutions;
– Opportunities for High Net Worth (HNW) investors;
– A message for Wealth Builders who are not yet HNW;
– Our upcoming 2023 Annual Wealth Building Master Class.

We highly recommend that you watch this video to stay up to date on the latest developments at BF and learn how they may impact your investments and opportunities.

Best regards,

The BF Team

Involved In A Crypto Chapter 11 Case Like Celsius, Voyager, FTX or BlockFi? Read This…

With Voyager, Celsius, FTX and now BlockFi all filing for Chapter 11 bankruptcy, 2022 has been a tough year for equity investors. As Celsius was a portfolio company on Bnk To The Future, our team has been working hard to support creditors as equity tends to get wiped out in Chapter 11 and some of our investors are now Celsius creditors as well as shareholders. We have learnt a lot about Chapter 11 and have been engaging with creditors, debtors, the Unsecured Creditor Committees (UCC) and participating in Chapter 11 auctions as well as court hearings to maximize recoveries for Chapter 11 creditors.

At Bnk To The Future we have a long history supporting portfolio companies and investors with effective recovery plans. As early investors in Kraken, in 2015 we experienced first hand utilizing their technology to support Mt. Gox creditors after the exchange shut down. In the 2016 Bitfinex hack recovery, we supported creditors with the world’s first security token that took their recovery from a low of $0.30 on the dollar to a peak of $16 for every dollar owed to creditors after their hack. We also participated in the 2019 Tether recovery. In each case we used financial innovation to support creditors.

Now with millions of creditors in our sector involved in at least one Chapter 11 case, the team at Bnk To The Future have been working very hard to bring to you a new feature right within your Bnk To The Future account, which allows you to display your Chapter 11 claims and in future releases use them as the Chapter 11 process continues.

The first initial beta feature allows you to import your claim and have it displayed conveniently within your account. As your Chapter 11 case evolves you will be able to have a voice in the major crypto Chapter 11 processes. We are starting with Celsius and will add support for Voyager, FTX and BlockFi as the cases progress. In future releases we intend to add the ability to track likely recoveries, trade your claims with other investors and invest in bidder, debtor and creditor financing.

You can test out this feature now and see your Celsius claim within your account. You can get your account ready and we will notify you as soon as we go live with Voyager, FTX and BlockFi. Get your account ready in preparation using the following guide:

This Blog will show you how to get started with your claim. Let’s get started…

Step 1: You will need to have an account with Bnk To The Future that is verified. If you do not have an account, please hit the Join Us green button on the top right corner of the website and follow all instructions.

NOTE: You must use the same name on your account as your claim. You can create an individual or organizational account.

If/when you have a verified account on Bnk To The Future, then please continue the following steps:

Step 2: Login to your Bnk To The Future account. Once you are logged in you will see the option on one of the tabs that reads – Chapter 11 Claims (see image screenshot below). Click on this link. Please note that in the future this option will have a drop down menu list where you will see Chapter 11 Claims you would like to apply for e.g. FTX, Voyager, BlockFi etc. For now, this will take you to Celsius Chapter 11 Claim.

Step 3: Read The Instructions & Supply Any Additional information if needed – this is the part where you are required to submit proof of your account balance e.g. log into your Celsius app and take a screenshot of your account balance. Hit the submit button when you have uploaded your screenshot.

NOTE: If your verified name is unique to the Chapter 11 claim we will match you up automatically with no need to provide additional evidence.

Step 4: You’ve hit the submit button – wait about 48 hours to check back in as we begin verifying your request – Our dedicated team will check everything within 48 hours. If what you have submitted has been rejected, you will see a rejection explanation on the Chapter 11 Claim page. You can then re-submit your screenshot

Whilst you wait, please check out the FAQ section as shown below.

To Learn More About The Chapter 11 Process our CEO Simon Dixon created this useful guide on Exiting Chapter 11 with a quick demo of these features at the end.

We look forward to supporting you through your Chapter 11 journey and to help make a tough situation a lot easier for you.

It’s important to note: Bnk To The Future displays your claim by finding your full name in the public schedule of asset list. If you have a unique match your request will automatically be accepted. If there are multiple matches, we will ask you for more details so that we can find the exact match.

IMPORTANT: This feature is for informational purposes only. There may be inaccuracies in the source data or the data import process. Under no circumstances is the importing of data anything more than a data import. No legal transfer of claim is being performed when the data is imported.

If you choose to connect your Chapter 11 claim information to your Bank to the Future account, you will not be agreeing or committing to vote your claim in favour of a plan of reorganization or other transaction supported by Bank to the Future or to otherwise support such a plan or transaction. Bank to the Future is not now soliciting support for any such plan or transaction from Chapter 11 creditors. Such a solicitation would only be made based on a Disclosure Statement which has been approved by the Bankruptcy Court as containing adequate information or another order of the Bankruptcy Court which expressly permits such solicitation.

Bnk To The Future Announces Termination of LOI with SALT Blockchain, Inc.

November 15, 2022 –
Bnk To The Future (the “Company”) announces that its previously announced non-binding letter of intent with SALT Blockchain, Inc. (SALT) has terminated due to SALT’s position with FTX and for failing Bnk To The Future’s Due Diligence and that the transactions contemplated thereby will not proceed.
Bnk To The Future has not been impacted from neither SALT nor FTX as Bnk To The Future has no direct or indirect connection with SALT or FTX, and that all client funds are fully segregated and uninvested.
For more information on the letter of intent and the transactions contemplated thereby, please see the Company’s news release dated September 6, 2022.

About Bnk To The Future
Bnk To The Future is a global Online Investment Platform allowing qualifying investors to build their investment portfolio in the equity of Crypto; FinTech companies, security tokens and other new alternative financial products like Bitcoin centered retirement plans. Bnk To The Future was the very first securities business in the crypto market, beginning shortly after Bitcoin in 2010 and now has a community of over 150,000+ qualified investors from all over the world who have invested over US$1bn in funding rounds listed on its online investment platform. US residents register with BMI Capital International LLC, a registered US broker-dealer with FINRA and member of SIPC. Bnk To The Future portfolio companies include Coinbase, Circle, Blockchain.com, Kraken, BitStamp, BitFinex, ShapeShift, BitPay, Ripple Labs and over 100 others.

Ethereum The Merge

We would like to take this opportunity to inform you that Bnk To The Future is fully prepared for the Ethereum The Merge. The current estimated time for the Ethereum Merge is 2022-09-15 at 01:30 (UTC).

It’s happening in just a few hours from now.

There are some uncertainty about how the Ethereum Network will handle transactions during The Merge. To avoid unnecessary risk, while The Merge is happening, we will not be processing Ethereum transactions from 14/09/200 to 15/09/2022. This will also include all deposits, payments, and withdrawals. Other protocols will continue to be available, and we will resume the ability to send Ethereum transactions after The Merge.

It is expected that gas fees and other parameters of the network might be unstable during that period. We strongly suggest that you carry out any urgent transactions before The Merge, or wait until after it has happened.

Should you have any questions, feel free to contact us.

Thanks.

P.S. Last week Wednesday 7th September 2022, we streamed #BFLIVE Episode 101 – The Future of Crypto Lending via our YouTube channel. If you missed it, here’s the link: https://www.youtube.com/watch?v=jN1xtijGc18&t=5s

Bnk To The Future To Acquire Crypto Lender SALT

Bnk To The Future To Acquire Crypto Lender SALT In A Bid To Reshape Crypto Lending

Bnk To The Future has entered into a non-binding letter of intent to acquire SALT. The move will combine the world’s first Bitcoin and crypto securities business with the first crypto lending platform. Bnk To The Future and SALT have operated advanced securities and lending technology for over a decade combined and have extensive experience in their respective fields. The transactions described in the letter of intent are contingent upon signing definitive agreements and obtaining regulatory approvals.

The primary objective is to develop what we believe to be a regulatory compliant solution for customers impacted by the current crypto lending crisis. “We want to offer an option for distressed lending companies that may not be able to come out of bankruptcy due to regulatory issues. We have prior experience supporting our sector to recover swiftly with our involvement in the Bitfinex exchange hack recovery in 2016”, said Simon Dixon, CEO & Co-Founder of Bnk To The Future. “Mt Gox took 8 years to resolve and depositors are just now seeing light at the end of the tunnel, whilst Bitfinex was recovered from disaster in less than a year after working on a recovery plan with Bnk To The Future. By combining securities and lending we believe we can attempt the same for distressed lending companies.”

Having launched in 2016, SALT was among the first platforms to offer loans to holders of Bitcoin and has since been focused on securing additional lending licenses, and optimizing its lending technology and risk management operations. Over the last few years, the Company has built a full stack loan management and risk platform that manages complex crypto loans.

Shawn Owen, Interim SALT CEO and board member added, “Never has the importance of leadership, regulations and over collateralization been more relevant in the crypto industry than right now, given the painful lessons of 2022’s collapse. We see a time-sensitive threat to our sector, which could be an opportunity to help bring trust and hope back to so many who have been devastated by recent events, and a clear path towards a compliant business that we have been working on since late 2016.

This announcement may be the first in a series of announcements in which we aim to further Bnk To The Future’s mission to offer investors access to financial innovation and alternative financial products in a compliant way. “We launched the first Bitcoin Bond in 2014. We launched Bitcoin mining backed securities in 2015. We participated in funding rounds and brought investments in shares of Kraken, BitStamp, Coinbase, Circle, Blockchain.com, Robinhood and many others to our investors. Now is the time for us to offer solutions to distressed lending platforms in compliance with securities and lending laws. Together we can continue to set the standard for registered crypto securities and lending platforms.” concluded Dixon.

CoinDesk were the first to publish an article today to make this announcement publicly: https://www.coindesk.com/business/2022/09/02/crypto-investor-bnktothefuture-agrees-to-buy-salt-to-add-crypto-lending/

BF LIVE & Twitter Space
On Wednesday 6th September 2022, our CEO Simon Dixon, will be hosting BF LIVE Episode 101 (on Bnk To The Future YouTube channel) to discuss the future of crypto lending. The duration of the livestream will be for 30 minutes.

The main points that will be discussed are:
– Crypto lending after the collapse
– Combing Equity and Lending For The Future of Crypto Lending
– How to manage risks when lending your crypto for yield.
For those who would like to join Simon Dixon for an AMA (Ask Me Anything) session, you will be able to head over to Simon’s Twitter Space where you can ask your questions in real time. Here’s the link for you to join: https://twitter.com/i/spaces/1vOxwMlkrYPGB?s=20

About Bnk To The Future
Bnk To The Future is a global Online Investment Platform allowing qualifying investors to build their investment portfolio in the equity of Crypto & FinTech companies, security tokens and other new alternative financial products like Bitcoin centered retirement plans. Bnk To The Future was the very first securities business in the crypto market, beginning shortly after Bitcoin in 2010 and now has a community of over 150,000+ qualified investors from all over the world who have invested over US$1bn in funding rounds listed on its online investment platform. US residents register with BMI Capital International LLC, a registered US broker-dealer with FINRA and member of SIPC. Bnk To The Future portfolio companies include Coinbase, Circle, Blockchain.com, Kraken, BitStamp, BitFinex, ShapeShift, BitPay, Ripple Labs and over 100 others. For more info visit https://BnkToTheFuture.com

About SALT
Founded in 2016 and headquartered in Denver, SALT is the pioneer of crypto-backed lending. SALT’s mission is to build and enable simple, familiar and novel crypto financial products that increase access to financial opportunities and give consumers more control over their ability to generate long-term wealth.

SALT’s crypto lending products enable its users to seamlessly access credit against their crypto portfolios – while the Company’s B2B Embedded Crypto Lending Service enables 3rd party platforms to offer these products to their users. For more information, visit www.saltlending.com or follow us on Twitter, Facebook and Medium

Important Please Read
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding consummation of the proposed acquisition and expected benefits of the acquisition. Actual results could differ materially from those projected or forecast in the forward-looking statements. Factors that could cause actual results to differ materially include the following: the parties may not enter into a definitive agreement on the terms expected or at all, the conditions to the completion of the transaction may not be satisfied, or the regulatory approvals required for the transaction may not be obtained on the terms expected, on the anticipated schedule, or at all; closing of the transaction may not occur or may be delayed, either as a result of litigation related to the transaction or otherwise; the parties may be unable to achieve the anticipated benefits of the transaction; revenues following the transaction may be lower than expected; the duration and scope of the COVID-19 pandemic, including any recurrence, may affect the results of operations; operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, partners, and commercial counterparties) may be greater than expected; the parties may assume unexpected risks and liabilities; negotiating and completing the transaction may distract the parties’ management from other important matters; and with respect to SALT the other factors discussed in “Risk Factors” in Salt’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and in Salt’s other filings with the SEC, which are available at http://www.sec.gov. The parties assume no obligation to update the information in this press release, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

Celsius Recovery Plan – A Statement From Simon Dixon And Bnk To The Future

At Bnk To The Future, we have 1,039 of our investors that own shares in the Celsius Network SPV. Our CEO and Co-Founder, Simon Dixon, drafted a message for both the Celsius community and our investor community in light of the recent suspension of withdrawals at Celsius:

“Since 2011 I’ve seen Mt. Gox collapse the market, ICOs collapse the market and now leverage collapse the market. In each cycle we innovate solutions using new technologies. Celsius and their CEO Alex Mashinsky have been live every week sharing their journey and building a community. I hope he will find the right solution like our industry always has when financial innovation goes wrong. It’s a bottom up movement and I have always used bottom up solutions to recover from disasters in our sector.

As a Celsius shareholder, lender and Bitcoin evangelist and due to the short-term systemic impact on those that own Bitcoin, I am keen to support Celsius with a recovery plan. As one of the first investors in Bitcoin companies I have worked with many of them in their times of need. In 2016, Bitfinex needed a plan to recover from their hack and the company I co-founded, BnkToTheFuture.com, supported them and executed a recovery that involved security tokens, debt and equity and gave investors a very high return for the high risk they took.

I commit to supporting Celsius in any way that is useful. They have built a community that believes in bottom up and we have a platform and experienced team that can help Celsius bottom up.

It will be a hit for a small portion of my total wealth that I have lent out through Celsius if they go down, but it will not impact my finances or Bnk To The Future in any meaningful way. I am more concerned for community members that may have a chance at preserving a larger percentage of their wealth through a recovery plus an education in risk management.

I believe traditional finance will not have a timely solution for Celsius as we saw in the past with Mt. Gox that still remains unresolved 10 years later. I believe that this can only be solved with a solution using financial innovation like we did with Bitfinex that was resolved within 9 months and worked out very well for depositors. It’s not my place to reveal information before Alex and the Celsius board are ready, it’s my position to offer solutions as we have the experience, licences and technology to do so. Our industry has come back stronger from every disaster and now is the time for us to offer support in a bottom up way in compliance with the regulations we have always followed”

Simon Dixon,
CEO & Co-Founder BnkToTheFuture.com

For more updates, please follow Simon Dixon on Twitter: https://twitter.com/SimonDixonTwitt

BF LIVE 100th Episode – UST Luna Meltdown: What Happened & What Does It Mean For Bitcoin?

The Terra ecosystem, including Luna, UST, and the anchor protocol, recently crashed.

Join our CEO, Simon Dixon, for BF LIVE 100th Episode as he discusses the UST Luna Meltdown.

Simon Dixon was streamed live on Wednesday, May 18th, 2022, and during the 1-hour live stream, he discussed the following points:

– A post-mortem on the UST LUNA systemic crash.
– The biggest week for Bitcoin & how to profit from it.
– Protecting your portfolio from future crashes.

Bitcoin Crash 2022 | BF LIVE #99

Join our CEO, Simon Dixon, for BF LIVE Ep.99 on Wednesday 11th May 2022 at 5pm BST / 12pm EDT.

Topic: Bitcoin Crash 2022

Simon Dixon discussed the following during the 1-hour Livestream (The second segment of the show Simon Dixon answered questions in AMA – Ask Me Anything – format):
– How to survive the Bitcoin bear market;
– Investing during a Bitcoin bear market;
– Protecting your wealth in a bear market.