Cryptocurrency -lends LEDN Removing support for Ether

And will start offering a Bitcoin-Kun loan model that starts July 1st, as it appears to simplify its product and sharpen its focus around Bitcoin.

Cayman Islands-Registred Company may be trying to expand its appeal among the corners of the crypto community that says BTC is the only cryptocurrency needed. Such BTC advocates are often referred to as “Bitcoin Maxis.”

“With our new hyperfocus on only bitcoin loans, we go back to our roots and principles that inspired Bitcoin to begin with,” co-founder Adam Reed said in an email message Friday.

LEDN will also stop lending client assets to generate dividends as it seeks to remove the risk from its business model. Bitcoin offered LEDN as security for loans will remain fully in its custody or for its partners, Ledn said.

“Traditional funding depends on constant recycling of client assets to create leverage and ultimately inflation,” Reeds said. “Bitcoiners instinctively reject that model.”

Cryptocurrency -Loan was a large crash of crypto -winter in 2022, where companies including Blockfi, Voyager, Celsius and Genesis went to the wall.

LEDN managed to survive and is now trying to revive the BTC-backed lending sector with his simplified product offering and helped by the friendlier legislative approach to crypto in the United States, co-founder Mauricio di Bartolomeo told Coindesk in a recent conversation.