PANews reported on May 23 that according to The Block, the crypto lending platform Ledn announced that it will terminate Ethereum support and interest-bearing business and fully switch to the Bitcoin mortgage model. From July 1, the platform will only provide "custodial Bitcoin loan" services, and customer mortgage assets will be fully managed by Ledn or its partner institutions. Ledn only added Ethereum mortgage service in February 2024. This adjustment means that the "growth account" of BTC and ETH will be closed at the same time. The company's CEO Adam Reeds said that this move returns to the original intention of Bitcoin to fight against the fractional reserve banking system and eliminate third-party credit risk.
Ledn will abandon support for Ethereum and fully switch to Bitcoin mortgage model
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