When the BTC or USDC in your Growth or Savings Accounts are not on-lent by Ledn to borrowers, BTC and/or USDC are primarily held in cold storage with Ledn’s custodial partners.
When your BTC is in your Transaction account, it is primarily held in cold storage with our custodial partners. We keep a certain balance in hot wallets to facilitate operations, including transfers and withdrawals.
You can see the latest allocation of assets in your Ledn account or our Open Book Report, which you can find on our blog.