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    Home»Altcoins»Ledn Drops ETH, Ends Yield Merchandise to Concentrate on Bitcoin – Bitbo
    Ledn Drops ETH, Ends Yield Merchandise to Concentrate on Bitcoin – Bitbo
    Altcoins

    Ledn Drops ETH, Ends Yield Merchandise to Concentrate on Bitcoin – Bitbo

    By Crypto EditorMay 26, 2025No Comments2 Mins Read
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    Ledn Drops ETH, Ends Yield Merchandise to Concentrate on Bitcoin – Bitbo

    Key Takeaways

    • Ledn will cease ETH lending and BTC/ETH yield accounts on July 1.
    • All consumer property will stay totally custodied to remove lending threat.
    • The transfer comes as BTC-backed lending competitors intensifies.

    Ledn, the centralized lending platform, is ending help for Ethereum-backed loans and discontinuing its interest-bearing accounts because it strikes towards a completely custodied bitcoin-only mannequin.

    The adjustments take impact July 1, the corporate confirmed in a press release shared on Might 23.

    Elimination of third-party credit score publicity

    The agency will not lend out consumer property to generate yield, eliminating third-party credit score publicity.

    As a substitute, it’ll solely supply bitcoin-collateralized loans the place property stay underneath custody by Ledn or its companions.

    CEO Adam Reeds stated:

    With our new hyper-focus on bitcoin-only lending, we’re going again to our roots. Bitcoin was created as a direct response to the dangers of fractional reserve banking… That’s why we’ve moved away from this method completely.

    Retirement of development accounts

    Ledn had solely launched ETH-backed loans in February 2024, partially to assist refinance customers impacted by Celsius’s collapse.

    Now, it’s retiring each BTC and ETH “Development Accounts,” which beforehand provided as much as 4% APY.

    Aggressive panorama & market positioning

    The choice comes amid renewed curiosity in bitcoin-backed lending, particularly as BTC trades at all-time highs.

    Opponents comparable to Strike, Coinbase, Xapo Financial institution, and Unchained have not too long ago launched or expanded their bitcoin mortgage merchandise.

    Nevertheless, Ledn is positioning itself as a lower-risk various by avoiding opaque constructions and prioritizing transparency.

    Dedication to transparency & safety

    Ledn launched proof-of-reserves attestations in 2020 and says it has originated over $9.5 billion in loans.

    The corporate believes its simplified, bitcoin-focused method must be the usual for digital asset lenders.

    Bitbo Dashboard → / Unique Article

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