Cryptocurrency Lender LEDN removes support for ether
ETH$ 2,555.48
and will start offering a Bitcoin-all loan model from July 1, because it wants to simplify its product and sharpen his focus around Bitcoin
BTC$ 108,755.81
.
The company registered by Cayman Islands may try to broaden its attraction between the corners of the crypto community that say that BTC is the only cryptocurrency needed. Such BTC proponents are often called “Bitcoin Maxis”.
“With our new Hyper-Focus on Bitcoin all-loans, we go back to our roots and principles that Bitcoin inspired to start with,” said co-founder Adam in an emailed announcement on Friday.
LEDN will also stop borrowing client assets to generate yield, because it strives to remove the risk of his business model. Bitcoin that is offered to LEDN as collateral for loans will remain entirely in the detention or that of his partners, Ledn said.
“Traditional finances are based on constant reusing of client assets to create leverage and, ultimately, inflation,” said. “Bitcoiners reject that model instinctively.”
Cryptocurrency Lending was an important victim of Crypto -Winter in 2022, in which the companies went to the wall such as blockfi, Voyager, Celsius and Genesis.
Ledn managed to survive and is now trying to revive the credit sector supported by BTC, with its simplified product range and helped by the friendly regulatory approach to Crypto in the US, co-founder Mauricio di Bartolomeo told Coindesk in a recent interview.
