Overview of Transaction

• On November 18, 2025, Ledn announced a strategic investment from Tether, the largest company in the digital asset industry
• Founded in 2018 by Adam Reeds and Mauricio Di Bartolomeo – Ledn is one of the global market leaders in consumer bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling customers’ Bitcoin
• Ledn offers a simplified Bitcoin-only, fully-custodied model with recurring Proof of Reserve reports and has serviced over $10 billion in loans across more than 100 countries

Significance of Transaction

• The transaction underscores Tether’s confidence in Ledn’s leadership and its commitment to helping build real-world financial infrastructure that empowers individuals and businesses to access credit without having to sell their digital assets
• Ledn’s robust and regulated platform infrastructure makes it an ideal fit to expand the adoption and distribution of Tether’s assets across new markets and use cases, including future opportunities with USA₮, Tether’s newly announced U.S.-issued, fully regulated dollar stablecoin

FT Partners' Role

• FT Partners served as Ledn’s exclusive financial and strategic advisor, leveraging deep sector expertise to deliver a highly favorable outcome for the company
• This transaction highlights FT Partners’ market-leading position in the Digital Assets space while reinforcing our proven ability to execute complex, high-impact deals for innovative companies worldwide