Ledn, one of the world’s largest bitcoin lenders, announced its Open Book Report, a reserves transparency benchmark designed to expose the kind of risk that caused the 2022 FTX-driven crypto crash. 

According to a press release shared with Bitcoin Magazine, “Traditional lenders (including Citi, JPMorgan, Wells Fargo, BNY Mellon, Schwab, and Bank of America) are reportedly entering the space amid a regulatory vacuum in terms of rehypothecation practices and proof of reserves.” With the passing of the GENIUS Act, which greenlit treasury-backed stablecoins, Wall Street now has a road to service the crypto market and even upgrade its own rails and infrastructure. 

But there are…

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