Scott Cohen – SALT

When Scott Cohen reflects on his legal career, he sees a continuous thread of adaptability. From the world of high-stakes Chapter 11 bankruptcies to the fast-evolving realm of cryptocurrency, his ability to navigate complexity has been both his compass and his calling card. Today, as general counsel for SALT Lending, Cohen sits at the intersection of traditional finance and digital innovation—where decades of legal strategy meet the boundless potential of blockchain technology.

Scott Cohen | SALT | General Counsel

Founded in 2016, SALT Lending was among the first companies to enable people to securely borrow against their Bitcoin holdings. By turning cryptocurrency into a usable asset for loans, SALT became an early pioneer of crypto-backed lending—a model that combines the flexibility of digital assets with the rigor of traditional lending. The company’s mission is simple but ambitious: to help individuals unlock the value of their Bitcoin without selling it, creating liquidity while maintaining long-term investment potential for HODLers.

That kind of innovation requires a legal leader who understands both the old rules of finance and the new ones being written in real time. With Cohen at the helm of the company’s legal operations, SALT is well-positioned to do both.

From Chapter 11 to the crypto frontier

Before joining SALT, Cohen spent years in private practice at the renowned firm Weil, Gotshal & Manges, where he worked on some of the largest and most complex Chapter 11 cases in U.S. history. Representing those debtors like WorldCom and Parmalat amidst their financial scandals, as well as other high-profile matters, provided him with a crash course in how to stabilize chaos, manage risk, and keep a cool head in the most volatile situations.

“At Weil, we were doing some of the largest Chapter 11 cases to this day,” he recalls. “As debtor’s counsel, you had to learn entire industries overnight—telecom, retail, aviation—because you couldn’t represent these companies without understanding their business.”

Cohen credits much of his professional development to mentors like Harvey Miller, Marcia Goldstein and Gary Holtzer, icons of the bankruptcy bar whose work set the standard for corporate restructuring.

“They taught us the ability to step into the fire and manage it—to solve problems, handle growth, and the importance of staying calm when others might not,” he says.

Those lessons proved invaluable as he transitioned from traditional Big Firm Lawyer into consulting and, eventually, fintech and cryptocurrency.  After leaving Weil, he and his family relocated to Panama, where he balanced advisory work with family life, founding CLC Partners, a consulting firm advising on cross-border restructurings, transactions, and other projects in the region. His global perspective—and comfort with uncertainty—would later become central to his leadership at SALT Lending.

Crypto, compliance & constant change

Cohen joined SALT Lending in early 2024, just as the cryptocurrency industry was experiencing another cycle of upheaval. Several major competitors had filed for bankruptcy (in some instances, hiring former colleagues as debtor’s counsel) following the collapse of exchanges and lending platforms, but SALT survived—thanks to its commitment to protecting customer collateral, responsible regulation and long-term sustainability.

“From the beginning, SALT understood it was operating in a regulated space,” Cohen says. “Consumer lending is clearly regulated, so unlike many early crypto companies, this wasn’t a ‘wild west’ operation.”  Regulation has always been key to SALT’s business; it helps build trust with customers and demonstrates that the customers’ assets are protected.

As general counsel for a company with 35 employees, Cohen’s role spans the entire legal spectrum. He supervises state licensing across the United States and, increasingly, a growing list of international jurisdictions. Each new market brings a fresh set of regulations, requiring deep analysis and coordination with local authorities. He also provides legal counsel on the company’s liquidity facilities, regulatory compliance, and contract negotiations, often serving as the bridge between innovation and oversight. His background in restructuring law—where lawyers must simultaneously manage crises, creditors, and corporate governance—has given him a rare advantage in the crypto world.

“When you’ve seen the speed and intensity of a Chapter 11 case, it gives you perspective,” he says. “You learn to analyze, educate, understand the implications for the company, and bring your views to the table quickly. Those skills are immensely useful for a chief legal officer.”

One of his most ambitious current projects is the development of a novel securitization financing vehicle—a financial structure that adapts traditional instruments to fit the needs of crypto assets.

“There’s no blueprint for what we’re doing,” Cohen explains. “It appears to be the first of its kind in this industry, which is exciting. We’re combining the framework of traditional finance with the innovations of blockchain to create something recognizable to the market, but entirely new.”

This blend of old and new reflects Cohen’s professional philosophy: respect for the stability of the law while embracing the inevitability of change. The result is a legal strategy that doesn’t just react to shifts in the market—it anticipates them.

Leadership without borders

Cohen’s leadership style has evolved along with his geography. Based in Panama since before the COVID-19 pandemic, he has learned to lead across cultures, time zones, and communication styles.

“When you leave New York, you realize people work differently around the world.”  He jokingly acknowledges, “You can’t just send an email at 10 p.m. and expect a response—you adapt your approach.”

That adaptation extends to how he manages teams.

Cohen places a high value on empathy and communication. Working with colleagues across languages and backgrounds has reinforced the importance of clarity, patience, and mutual respect.

“Being a leader of people for whom English is a second language forces you to rethink how you communicate,” he says. “Everything I learned about leadership in New York had to evolve. The definition of being a team player isn’t universal—you have to listen, observe, and adapt.”

“Fundamentally, you need to find people you can trust,” he explains. “You empower them to do their job, not micromanage them. You need to know how they’ll handle new situations and whether they can stay composed when things get complicated.”

For Cohen, remote work has been transformative—not just for his career but for his family life.

“It’s mind-blowing that I work for a company based in Denver and I’ve never been to Colorado,” he says, laughing. “Video conferencing changed everything. It’s allowed me to do my job at the highest level while being present for my wife and kids. I can help with schoolwork, go to basketball games, and still handle legal matters.”

That balance between personal and professional fulfillment is one of his proudest achievements. During the pandemic, when the bridges across the Panama Canal were closed, Cohen and his family found themselves “trapped” at the beach for months—yet he kept working seamlessly.

“It proved what I already believed: excellence is tied to your training, mindset and commitment.”

Redefining the legal frontier

In the ever-changing landscape of cryptocurrency and digital finance, Cohen’s approach mirrors SALT Lending’s philosophy: grounded in prudence, yet bold enough to innovate. Both see opportunity not in speculation, but in sustainability.

SALT continues to expand its suite of offerings, giving clients better ways to access liquidity without selling their Bitcoin. The company’s survival through volatile market cycles is a testament to its thoughtful, compliance-driven model—a rarity in an industry known for disruption.

Cohen views his role as both guardian and architect: protecting the company from risk while helping design its future. That dual responsibility requires agility, foresight, and an unflappable temperament—qualities honed over years of restructuring billion-dollar enterprises and managing crises under the scrutiny of regulators, investors, and the public.

“All new industries struggle to find good people,” he says. “But crypto is at the point now where the legal profession and regulation are catching up. The rules are changing, and that’s when we can really drive the bus forward through those new openings.”

In many ways, Cohen’s journey—from representing collapsing corporations to advising a company redefining the financial system—reflects the evolution of modern finance itself. It’s a world that demands both respect for history and readiness for disruption.

“I’ve learned that you can’t shy away from big problems,” he says. “You deal with what’s in front of you, and get it done.”

That pragmatic mindset—rooted in experience, tempered by resilience, and energized by curiosity—has made Cohen not just a witness to financial transformation, but one of its architects. At SALT Lending, he’s proving that the future of law, like the future of finance, belongs to those willing to stand at the edge of what’s next and take the next step forward.