What to know:
- Ah, the cryptocurrency lender Ledn, in a fit of clarity, has decided to bid adieu to ether and embrace a bitcoin-only loan model. How quaint! 🥳
- In a move that would make even the most stoic of investors chuckle, Ledn will cease lending client assets to generate yield, all in the name of risk reduction. Because who needs risk, right? 🙄
In a rather dramatic turn of events, our dear cryptocurrency lender Ledn has chosen to sever ties with ether, embarking on a noble quest to offer a bitcoin-only loan model starting July 1. One can only imagine the sighs of relief from the bitcoin purists! 🌟
This Cayman Islands-registered entity seems to be courting the affections of those in the crypto community who fervently believe that BTC is the sole cryptocurrency worthy of existence. These enthusiasts, affectionately dubbed “Bitcoin Maxis,” must be dancing in the streets! 💃
“With our new hyper-focus on Bitcoin-only lending, we’re returning to the very roots and principles that inspired Bitcoin’s inception,” co-founder Adam Reeds proclaimed in an email that surely echoed through the halls of crypto history. 📜
In a rather bold declaration, Ledn will also halt the practice of lending client assets to generate yield, seeking to eliminate risk from its business model. The bitcoin collateral offered to Ledn will remain securely in its custody or that of its partners. Because, you know, trust is everything! 🤷♂️
“Traditional finance relies on the incessant recycling of client assets to create leverage and, ultimately, inflation,” Reeds mused. “Bitcoiners, with their instinctive rejection of such models, must be feeling quite smug right now.” 😏
Ah, the cryptocurrency lending sector, once a vibrant garden, has suffered greatly during the crypto winter of 2022, with companies like BlockFi, Voyager, Celsius, and Genesis meeting their untimely demise. A tragic tale indeed! 🌧️
Yet, Ledn has managed to weather the storm and is now attempting to breathe life back into the BTC-backed lending sector, armed with a simplified product offering and a friendlier regulatory environment in the U.S., as co-founder Mauricio Di Bartolomeo shared in a recent interview. Hope springs eternal! 🌈
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2025-05-23 16:18