Ledn Goes Beyond Bitcoin: Tether Gold Trading Now Live, Loans Next
7/18/2026 · 14 min · transcript via whisper
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Key topics
— Ledn has launched tokenized gold (Tether Gold) as a complement to its Bitcoin-backed loan product, allowing clients to buy, sell, and soon use gold as collateral for dollar loans.
— Client behavior shows rotation between Bitcoin and gold depending on relative market setup; precious metals outperformed in mid-2025, but Bitcoin is now attracting capital back as the bear market appears to close.
— Tokenized gold addresses liquidity and transferability constraints of physical gold held in vaults, similar to how stablecoins unlocked utility for fiat currency.
— Tether Gold includes quarterly proof-of-reserves attestations by BDO, mitigating counterparty risk concerns compared to traditional physical gold storage.
— Gold-backed loans will launch on Ledn later in 2025 with mechanics similar to Bitcoin loans but potentially different terms due to gold's lower volatility.
— Ledn reports strong new user acquisition at current Bitcoin price levels, with minimal liquidations on recent tests of $60k, suggesting the bear market bottom is near or already reached.
Market & price signals
— Di Bartolomeo believes the bear market is closing or already at bottom. He notes that the February test of $60k saw panic, but recent retests showed zero liquidations and strong new borrowing demand. He expects Bitcoin to end 2025 between $80k–$90k, citing client behavior and flow patterns rather than pure technical analysis. He assesses that sellers at $60k are already out and views further downside to $30–40k as probabilistically unlikely. Precious metals recently reached near-historic highs while Bitcoin was depressed in mid-2025, but the relative setup now favors Bitcoin over gold.
Actionable insights
— If borrowing against Bitcoin, maintain dry powder equal to your collateral to cover volatility, regardless of price level; current $60k prices present lower downside risk than $120k+ did, making leverage less dangerous now.
— Monitor Ledn's gold product launch (coming later in 2025) if you hold both Bitcoin and physical precious metals elsewhere; tokenized gold on Ledn may offer better transferability and financing options than vault storage.
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