Another CeFi lender bites the dust- Ledn

From their email to customers:

>The following will take effect in the near future. The precise date will be confirmed in upcoming email communications.
>
>Clients will continue to earn interest as normal on any assets already in their BTC & USDC Savings prior to the adjustment date, as long as those assets remain in the account.
>
>**Clients will no longer be eligible to earn interest on any newly deposited BTC and USDC after the adjustment takes effect.**
>
>Other Ledn products will not be directly affected by this adjustment.
>
>We will continue to provide updates by email to keep all affected clients well informed of any upcoming changes

Blockfi has taken the same approach as well. Nexo has ramped up their KYC, not sure if new users are able to deposit. No news from Celsius yet but I imagine they’ll be stuck in the same situation. Gemini seems to be the safest at the moment.

Thoughts?

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6 thoughts on “Another CeFi lender bites the dust- Ledn”

  1. I use Gemini and [https://midas.investments/](https://midas.investments/) now.

    But we never know, SEC may come to them sooner or later but at least they let us keep earning interest for the existing funds until they register their interest accounts with SEC.

    Reply
  2. We at altafin started out the gate blocking US customers on our lending product while US regulations get enacted. Still strongly believe final regulation will be very favorable for crypto.

    Reply

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