From Cointelegraph

May 23, 2025 9:00 am:

Ledn is moving to fully collateralized Bitcoin lending, discontinuing Ethereum support to focus on BTC. Bitcoin collateral will be held in full custody, not rehypothecated. Ledn CEO states the move aligns with Bitcoin’s principles of asset security. The company’s loan book value is $9.9 billion. Bitcoin’s price hits new all-time high above $111,000, allowing investors to borrow against holdings instead of selling. Institutional investors embrace spot Bitcoin ETFs. Banking lobby reportedly concerned about stablecoins disrupting traditional business models.

Read more at Cointelegraph: Ledn ditches ETH, shifts to full custody model for Bitcoin loans