Ledn launches Ethereum-backed loans to help users affected by Celsius bankruptcy

The cryptocurrency lending platform Ledn has expanded to support loans collateralized with Ethereum, in addition to previously offering Bitcoin-backed loans. This expansion aims to support users affected by Celsius' bankruptcy. Ledn's new product allows users to effectively access liquidity from their ETH assets while avoiding capital gains tax from selling cryptocurrencies. Customers can withdraw USDC, USD, or other fiat loans and receive their ETH collateral back after repayment. The loan-to-value ratio for Ethereum-backed loans starts at 50%, with an annual interest rate of 10.4%. Ledn says these loans are available globally, with a low minimum amount, no monthly payments required, flexible repayment options, and typically funded within 24 hours.