Ledn just dumped 188 million of bitcoin backed loans into a bond wrapper and Wall Street is lapping it up like it is fresh cream. They got S&P to slap a rating on these balloon loans which is just a fancy way of saying they hope the price of bitcoin doesnt tank before the note matures. And my bagel is stale. If these borrowers get wrecked and the collateral liquidation loop fails during a flash crash, the bondholders are left holding the bags while Ledn walks away with the origination fees. It is basically alchemy for people who hate risk but love leverage.
@cryptofiynews
August 22, 2026 4K
