The cryptocurrency lending platform Ledn will terminate its support for Ethereum and interest-earning services, shifting to a Bitcoin collateral lending model

according to The Block, the crypto lending platform Ledn has announced that it will terminate support for Ethereum and interest-earning services, fully transitioning to a Bitcoin collateral lending model.

Starting from July 1, the platform will only offer "custodial Bitcoin lending" services, with customer collateral assets fully held by Ledn or its partner institutions. Ledn added Ethereum collateral lending services in February 2024, and this adjustment means that both BTC and ETH "growth accounts" will be closed simultaneously.