Ledn Transitions to Bitcoin-Only Loans Starting July 1
Ledn, a cryptocurrency lender, will discontinue support for ETH and introduce a bitcoin-only loan model starting July 1. This move aims to simplify its offerings and align with the "Bitcoin Maxis" community that advocates for BTC as the sole cryptocurrency.
- The company will focus exclusively on Bitcoin lending.
- Client assets will no longer be used to generate yield, reducing risk in their business model.
- Bitcoin collateral will remain under Ledn's custody or that of its partners.
- This strategy contrasts traditional finance, which relies on leveraging client assets.
- Ledn survived the 2022 crypto winter, unlike many competitors, and seeks to revitalize BTC-backed lending.
- The U.S. regulatory environment is becoming more favorable for crypto businesses.