Ledn Surpasses $1 Billion in Bitcoin Loans, Rebounding the Market

Ledn, a Bitcoin lending institution, has issued over $1 billion in Bitcoin loans in the past year, with $392 million in the third quarter alone. The company's annual recurring revenue has reached $100 million, and its loan book stands at $836.2 million with an average loan-to-value ratio of 42.7%. Ledn ranks as the world's third-largest centralized lending institution, behind Tether and Galaxy.