LEDN's Bitcoin loan volume for the year exceeded $1 billion, with $392 million issued in Q3 alone.

Techub News, according to CoinDesk, the cryptocurrency lending platform LEDN announced that its total loan originations from 2025 to date have exceeded $1 billion. Among these, the Q3 Bitcoin-backed loan originations reached approximately $392 million, nearly matching the total loan volume for the entire year of 2024. The company's annualized recurring revenue for the same period reached $100 million. As of the end of September, the loan book balance was approximately $836.2 million, with an average loan-to-value (LTV) ratio of 42.7%. LEDN ceased its Ethereum-backed lending business in May of this year, shifting its focus to a Bitcoin-only lending model.