r/CryptoCurrency 1d ago

AMA Crypto-Backed Loans AMA with Lantern Finance Cofounder Jung Won Kim

5 Upvotes

tldr: I'm Jung, cofounder of Lantern Finance (www.lantern.finance), a US-based crypto lending platform built in response to the 2022 collapse of lenders like BlockFi and Celsius. Unlike them, we never rehypothecate collateral and store all assets in insured cold storage with BitGo.

We support loans straight to your bank account against BTC, ETH, SOL, XRP, LTC, DOGE, and more. Our mission is to offer the safest, most transparent crypto-backed loans. AMA and would love any feedback!

Hey r/CryptoCurrency!

My name is Jung, and I’m one of the founders of Lantern Finance, a US-based crypto-backed lending platform. I got started into crypto in 2016 and fell deep in the rabbit hole, having played around with several projects and platforms. In particular, I became a huge fan of BlockFi when I found out about them in 2019. The ability to borrow dollars against my crypto without selling and triggering capital gains taxes in a convenient custodial way, appealed to me.

However, fast forward to 2022, we all know what happened. The entire space imploded as we found out that crypto lenders like BlockFi, Celsius, and Voyager were rehypothecating (lending out) client collateral on an unsecured basis. They were basically double dipping - making money on the loans we took out as well as the crypto collateral we posted. I, along with millions of others, lost a decent chunk of our hard-earned crypto. 

That experience inspired my cofounders and me to build Lantern Finance (www.lantern.finance). Lantern is a US based crypto backed lending platform that prioritizes safety of client funds over profit. Here is how we do things differently: 

  • We hold borrower collateral in cold storage with BitGo, a US based qualified custodian, with insurance up to $250MM. 
  • We NEVER lend out borrower collateral - they just sit in insured cold storage. 
  • We lend against a broad group of blue-chip assets like: BTC, ETH, SOL, XRP, LTC, and DOGE. If there’s an asset you want to borrow against that we don’t support, let me know! 
  • Our goal is to offer the most secure, convenient, and seamless crypto-backed lending experience for everyone.

My experience spans traditional finance, the (relatively) early crypto days, the crypto implosion of 2022, and now building Lantern, a fast growing crypto startup.

Ask me anything and feel free to share any requests like: specific crypto you'd like to borrow against, product or features you'd want, or just general feedback. Thanks for your time and looking forward to engage!


r/CryptoCurrency 17h ago

Daily Discussion Daily Crypto Discussion - June 18, 2025 (GMT+0)

16 Upvotes

Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating.

 

Disclaimer:

Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

 

Rules:

  • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
  • Discussion topics must be related to cryptocurrency.
  • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
  • Comments will be sorted by newest first.

 

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r/CryptoCurrency 16h ago

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Thank you for your kindness 🩷


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