PANews, May 23 - According to The Block, the crypto lending platform Ledn announced that it will terminate support for Ethereum and interest-earning services, fully shifting to a Bitcoin collateral loan model. Starting July 1, the platform will only offer "custodial Bitcoin loan" services, with customer collateral assets fully held by Ledn or its partner institutions. Ledn only added Ethereum collateral loan services in February 2024, and this adjustment means that both BTC and ETH 'growth accounts' will be closed. Company CEO Adam Reeds stated that this move returns to Bitcoin's original intention to combat the fractional reserve banking system and eliminates third-party credit risk.
