Bitcoin Lenders Spill the Beans: Ledn’s Open Book Report 🕵️♂️💰

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Ledn, the financial peacock of the crypto world, has decided to flaunt its feathers with a monthly Open Book Report, just as banks start dipping their toes into the bitcoin-backed loan pool. 🦚📈

In a move that screams, “Look at me, I’m transparent!” Ledn, one of the globe’s most prominent bitcoin lenders, has unveiled its Open Book Report. This document, as dry as a martini but twice as revealing, lays out the nitty-gritty of its BTC loan book, collateral levels, and loan-to-value ratios. The inaugural report boasts $868 million in outstanding loans, backed by 18,488 BTC, with every last satoshi verified by The Network Firm LLP. Because, you know, trust but verify. 🔍✨

This initiative is Ledn’s way of saying, “Hey, traditional banks, we’re setting the bar for transparency while you’re still figuring out how to spell ‘rehypothecation.’” John Glover, Ledn’s Chief Investment Officer, quipped, “If lenders don’t disclose how they use client collateral, the clients become the leverage. And nobody wants to be the leverage. Except maybe a circus strongman.” 💪🤡

🧭 FAQs (Because We Know You’re Curious)

• What does the Open Book Report disclose? Loan balances, BTC collateral, and average loan-to-value ratios. Basically, all the juicy details without the gossip. 📊
• When is the report released? The first one dropped on December 18, and now it’s a monthly affair. Mark your calendars, folks. 📅
• Which jurisdiction governs Ledn’s disclosures? The Cayman Islands, because where else would you go for financial transparency? 🌴
• Who verifies the collateral holdings? The Network Firm LLP, a U.S. accounting firm that’s as independent as a cat in a dog park. 🐱

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2025-12-19 15:12