Ledn's Open Book Report: July 2025

What’s next for the Open Book Report?

Now that we no longer lend assets to institutions, and ALL of our clients' collateral is held in segregated, bankruptcy-remote custodied wallets, you can rest easy in the knowledge that your assets are safe from potential institutional credit loss.

Given this stable structure, the Open Book Report will remain unchanged month to month. As a result, we’ll be pausing regular publication for now. That means we can focus on developing new ways to give you meaningful insight into how client assets are managed and how our business runs.We’re proud of the standard the Open Book Report helped set—and our commitment to openness remains. That same standard continues through our biannual Proof-of-Reserves attestations, which independently verify that every asset on our platform is accounted for - without compromising client privacy.

Disclaimer: This report (including any data contained herein) is provided for clients of 21 Technologies Inc.'s subsidiaries ("Ledn") on an ‘as is’ and ‘as available’ basis at the sole discretion of Ledn and solely for informational and educational purposes. Ledn expressly disclaims all liability and all warranties of accuracy, completeness, merchantability or fitness for a particular purpose with respect to this report. Past performance is no guarantee of future results. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Please read our full disclaimers at https://www.ledn.io/legal/disclaimers.