ledn

According to The Block, cryptocurrency lending company Ledn has completed a $188 million issuance of Bitcoin-backed securitized bonds. The transaction includes two tranches of bonds, with the investment-grade portion priced 335 basis points above the benchmark rate.The bonds are backed by approximately 4,078.87 Bitcoins, valued at about $357 million at fair value. S&P Global has assigned a BBB- rating to most of the bonds. Ledn primarily offers lending services backed by Bitcoin, having issued billions of dollars in loans since its inception.Previously, stablecoin issuer Tether invested in Ledn last November. This bond issuance was structured by Jefferies Financial Group, which acted as the structuring agent and bookrunner.

According to Arkham data, at 22:21, 309.78 BTC (worth approximately 25.61 million USD) was transferred from an anonymous address (starting with 1Kdb7...) to another anonymous address (starting with 1ALGy...). Subsequently, this address transferred 100 BTC to Ledn.

According to Arkham data, at 03:44, 129.41 BTC (worth approximately 11.6 million USD) was transferred from Ledn to an anonymous address (starting with 3HPQs3...).

According to a report by CoinDesk citing an informed source, Tether invested between $40 million and $50 million in Ledn last November. Ledn is a company that offers fiat and stablecoin loans backed by Bitcoin, and this investment brought Ledn's valuation to approximately $500 million.The report states that this investment further expanded Tether's mergers and strategic transactions, as the company currently holds a controlling stake in agricultural conglomerate Adecoagro and a minority stake in Juventus Football Club.

According to official news from Tether, the digital asset industry company Tether has announced a strategic investment in Ledn, a leader in the global consumer Bitcoin mortgage market. This move aims to expand access to credit channels, supporting individuals and businesses in obtaining loans without selling their digital assets.Ledn focuses on Bitcoin mortgages and has issued over $2.8 billion in loans since its inception, with more than $1 billion lent in 2025, marking the company's strongest annual performance. Its annual recurring revenue (ARR) has surpassed $100 million. Tether CEO Paolo Ardoino stated that partnering with Ledn can strengthen self-custody and financial resilience, creating real-world use cases for digital assets as a key pillar of the global financial system.Reports indicate that the crypto asset mortgage market is expected to grow from $7.8 billion in 2024 to over $60 billion by 2033. Ledn's infrastructure features advanced custody, risk management, and clearing systems, positioning it favorably in both retail and institutional markets.

ChainCatcher news, according to CoinDesk, Bitcoin lending institution Ledn has surpassed $1 billion in loans this year, with $392 million in BTC collateralized loans issued in the third quarter; the company's annual recurring revenue reached $100 million.Ledn removed ETH lending in May, transitioning to a solely BTC product. As of the end of September, the loan scale was $836.2 million, with an average LTV of 42.7%, and it published a proof of reserves (issued by The Network Firm). Ledn stated that demand comes from holders seeking liquidity by collateralizing BTC; according to Galaxy Research, Ledn is the third-largest centralized lending institution, following Tether and Galaxy.

ChainCatcher news, the crypto asset lending platform Ledn has completed a refinancing of a $50 million Bitcoin collateralized loan with Swiss crypto bank Sygnum, which was oversubscribed by two times, with part of the loan tokenized through its Desygnate platform.

ChainCatcher news, Ledn co-founder and CEO Adam Reeds believes that recent market dynamics indicate that digital asset treasury companies eager to hoard coins are facing a turning point.Adam Reeds stated that Bitcoin treasury companies were once a revolutionary innovation in the industry, but the ability to achieve threefold returns may be fading. Over the past five years, MicroStrategy has increased by 24 times, while Bitcoin has increased by 10 times, making such excess returns difficult to replicate.Adam Reeds believes that signs of a cooling trend have persisted for a week, indicating that the crypto treasury craze, primarily modeled after Strategy, is waning. The total market capitalization of DAT companies has fallen below $150 billion, and the cumulative market capitalization of Bitcoin treasuries has dropped from $165 billion a month ago to $134 billion (despite Bitcoin's relatively stable price). The stock price of Strategy has also fallen from a high of $455 in July to $359 this Friday, and the stock price of the Japanese listed company Metaplanet has seen a monthly decline of over 30%.Adam Reeds pointed out: "What is truly fading is the ability to create unique value propositions. Most DAT company CEOs claim that their sole goal is to increase the per-share cryptocurrency holdings, but it remains unclear whether they have unique management teams and whether they possess excellent capital operation capabilities."

ChainCatcher news, according to The Block, the crypto lending platform Ledn has announced that it will terminate support for Ethereum and interest-earning services, fully transitioning to a Bitcoin collateral lending model.Starting from July 1, the platform will only offer "custodial Bitcoin lending" services, with customer collateral assets fully held by Ledn or its partner institutions. Ledn added Ethereum collateral lending services in February 2024, and this adjustment means that both BTC and ETH "growth accounts" will be closed simultaneously.

ChainCatcher news, according to CoinDesk, Galaxy Research reports that the size of the crypto lending market in Q4 2024 is $36.5 billion, a 43% decrease from the peak of $64.4 billion during the 2021 bull market.Tether, Galaxy, and Ledn hold nearly 90% of the $11.2 billion in outstanding loans from CeFi centralized lending institutions, with CeFi loans down 68% from the peak of $34.8 billion in early 2022.

ChainCatcher news, John Glover, Chief Investment Officer of the cryptocurrency lending platform Ledn and former Managing Director at Barclays Investment Bank, stated that according to the technical analysis tool Elliott Wave Theory, Bitcoin is expected to drop to $89,000 before exceeding $125,000 in the first quarter of 2025.John Glover said, "Earlier this week, we saw Bitcoin drop below $92,000, so we may have completed the corrective wave towards the $125,000 target. If Bitcoin breaks through $125,000, it may experience another pullback before heading towards the cycle top around $160,000."He added that Bitcoin may see a pullback before January 20, when Trump is inaugurated, as investors take profits.Analysts at the blockchain data platform Glassnode indicated that investors should also closely monitor the $87,000 level, which is the cost basis for short-term holders of Bitcoin, assuming cryptocurrency valuations are reasonable. This type of "on-chain" analysis examines data directly recorded on the blockchain network to gain insights into market trends or investor behavior.

ChainCatcher news, Ledn CEO Adam Reeds, a company providing Bitcoin lending services, stated that Bitcoin-backed loans can significantly accelerate the flow of money and capital. Reeds explained that many Bitcoin holders are reluctant to sell BTC for liquidity, and traditional financial institutions typically do not accept Bitcoin as collateral, which leads to ineffective utilization of Bitcoin assets. By taking out loans with Bitcoin as collateral, holders can obtain fiat liquidity for business, consumption, real estate, or purchasing more BTC. Reeds noted that Bitcoin loans are efficient, allowing borrowers to secure financing within days, which is a significant advantage compared to the weeks or months processing time of traditional financial institutions. Furthermore, Reeds believes that the risk of using Bitcoin as collateral is lower than that of real estate or stock loans, as there is no GAAP risk. He also pointed out that Bitcoin-backed loans help address the issue of inadequate banking infrastructure in some regions, particularly in high-inflation countries like Argentina and Nigeria, providing fair financing opportunities for these areas.

ChainCatcher news, the digital lending platform Ledn has announced that it has secured a $50 million Bitcoin-backed syndicated loan, which will be used to "drive the growth of Ledn's retail lending business."The loan comes from the Sygnum Bank Group, a global digital asset bank that manages $4.5 billion in client assets.Adam Reeds, CEO and co-founder of Ledn, stated, "As digital assets inevitably integrate into mainstream financial markets, we view this pilot transaction as the first of many syndicated loans."It is reported that a syndicated loan is a loan provided by a group of lenders, arranged and managed by one or more commercial banks or investment banks.

ChainCatcher news, according to CoinDesk, the crypto lending platform Ledn issued over $1.16 billion in digital asset loans in the first half of 2024. In January of this year, the U.S. approved a spot Bitcoin ETF, which subsequently led to a rise in the price of Bitcoin, the world's largest cryptocurrency. This stimulated institutional clients to adopt the technology and allowed Ledn to process hundreds of millions in ETF market maker loans.The company noted that an increasing number of clients are using digital asset-backed loans for tax reasons, as borrowing against cryptocurrency collateral is often considered a tax-free event.

ChainCatcher news, according to The Block, the crypto lending platform Ledn reported that it provided over $690 million in cryptocurrency loans in the first quarter, setting a record since its launch in 2018.Among them, Ledn provided $584 million in loans to institutions and over $100 million in loans to retail. Compared to the $125.7 million issued in the fourth quarter of 2023, institutional loans grew nearly fourfold, while loans issued to retail increased about seven times from the previous quarter's $14.6 million.The company stated that Ledn's loan growth was driven by demand from former Celsius customers and the launch of the U.S. spot Bitcoin ETF.

ChainCatcher news, according to The Block, the crypto lending platform Ledn has expanded support for loans collateralized by ETH, having previously only supported loans collateralized by Bitcoin.It is reported that this expansion aims to assist victims with outstanding Ethereum loans in the Celsius bankruptcy, with the new product allowing users to lend Ethereum assets in a tax-advantaged manner, avoiding capital gains tax associated with selling cryptocurrencies.

ChainCatcher news, the crypto lending company Ledn has fired several employees, including Chief Commercial Officer Denis Nagasaki and Senior Data Engineer Guido Pettinari. Ledn stated that there are some open positions with Alameda Research, but there are no active lending relationships with Genesis.Ledn co-founder Mauricio Di Bartolomeo mentioned that while the layoffs are a difficult decision, Ledn is well-positioned to lead and define the future of the crypto lending industry. The team size is double that of the same period last year, and these changes allow it to refocus on its core retail lending business. (The Block)

According to Chain Catcher news and reported by PR Newswire, the crypto lending platform Ledn has announced that it has reached an agreement to acquire the Canadian digital asset investment management company Arxnovum. The acquisition will allow Arxnovum's business to operate as an independent business unit under Ledn, enabling Ledn to offer digital asset investment products to its client base in Canada and globally. The transaction is expected to be completed in the fourth quarter of 2022, pending regulatory approval.It is reported that at the end of last year, Ledn announced the completion of a $70 million Series B funding round at a valuation of $540 million, led by 10T Holdings, with participation from institutions such as Golden Tree Asset Management, Raptor Group, FJ Labs, and other angel investors.Arxnovum was founded by Shaun Cumby in 2021, who played a key role in a landmark decision with the Ontario Securities Commission ("OSC") at the end of 2019, which opened the regulatory door for publicly available digital asset funds in Canada. (Source link)