[Crypto Lending Platform Ledn Sells $188 Million Bitcoin-Backed Bonds] According to Deep Tide TechFlow on February 19, as reported by The Block, crypto lending platform Ledn has sold $188 million worth of Bitcoin-backed bonds, with Jefferies Financial Group serving as the structuring agent and bookrunner. The bond is divided into two tranches, with the investment-grade tranche priced 335 basis points above the benchmark rate and secured by 4,078.87 Bitcoins valued at approximately $356.9 million. S&P Global has rated most of the bonds at BBB-. It is reported that Ledn has issued billions of dollars in loans since its inception and received investment from stablecoin giant Tether last November.