The following is a guest post from Christina Comben.

If you’ve been following the crypto space for any length of time, you may be familiar with the name Ledn, pretty much the only centralized Bitcoin lending platform that didn’t crash and burn in the aftermath of Terra/LUNA, FTX, et al in 2022. Ledn’s more conservative approach to spending, scaling, and risk management enabled it to weather one of crypto’s largest sh*tstorms with notable aplomb.

That didn’t stop the industry from tarring the company with the same brush as its shady counterparts.

“Every crypto business was on fire in 2021,” recalls Ledn co-founder and CEO Adam Reeds, “then we went through this very tough period and had to work really, really hard to tell clients what we were doing differently and how things were working.”

One of the main contributors to Ledn’s staying power is a deep commitment to transparency with users. Ledn was the first digital asset lending company to complete a Proof-of-Reserves attestation, a process repeated every six months. This diligence has not only seen the company recover from the depths of the grueling bear but substantially grow its business.

“We became profitable at the beginning of 2024,” Adam smiles. “It’s been great to see. We have a better and bigger business today than we did in 2021.”

A Bitcoin-First Ethos

“Ledn is focused on ensuring that there are financial products for Bitcoin first,” Adam explains.

However, the company does support stablecoins Tether and USDC and recently conceded to broader demand for loans collateralized by alternative digital assets by adding Ethereum.

“Our premier product is Bitcoin and the core offer is our Bitcoin-backed loan. We allow clients to deposit Bitcoin with us and offer them liquidity so they don’t have to sell it.”

Are there additional benefits of using Ledn beyond maintaining your diamond hands?

“There are tax planning advantages to loans in most jurisdictions,” Adam says, “but the most

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Author: Christina Comben