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Ethena says USDe remains overcollateralised by more than $60m

NewsFeeds update

Ethena said Chainlink and Llama Risk confirmed USDe is still overcollateralised by more than $60m, a collateral ratio above 101%, and that no USDe reserve funds are held directly on Binance or other centralised exchanges. Proof of reserves is usually provided weekly by independent third parties.

StablecoinsOdailyAIBullish

Read the original on Odaily

The story so far: Ethena USDe collateral after Binance hack

USDe issuer Ethena says collateral with exchange exposure sits with off-exchange custodians, not on exchanges, and its unrealised profit-and-loss exposure to Binance is about $8.8m, well below its over $60m excess reserve fund. Ethena now says Chainlink and Llama Risk confirmed USDe remains overcollateralised by more…

  1. Ethena says collateral held off-exchange amid Binance security reports

    USDe issuer Ethena says collateral with exchange exposure sits with off-exchange custodians, not on exchanges, and its unrealised profit-and-loss exposure to Binance is about $8.8m, well below its over $60m excess reserve fund. It plans attestations from several external firms within hours.

    StablecoinsChainCatcherAIBullish

  2. Ethena says USDe remains overcollateralised by more than $60m

    Ethena said Chainlink and Llama Risk confirmed USDe is still overcollateralised by more than $60m, a collateral ratio above 101%, and that no USDe reserve funds are held directly on Binance or other centralised exchanges. Proof of reserves is usually provided weekly by independent third parties.

    StablecoinsOdailyAIBullish

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.