How Binance’s USDe ‘depeg’ cost the exchange millions
During the chaos, Ethena’s "synthetic dollar" USDe briefly traded at just $0.65 on Binance. The exchange has reimbursed victims with $283M.
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During the chaos, Ethena’s "synthetic dollar" USDe briefly traded at just $0.65 on Binance. The exchange has reimbursed victims with $283M.
Read more (3 min) →While keen to avoid being labeled as a stablecoin, Ethena's USDe is being used as such across some of DeFi's biggest players.
Ethena, the brainchild of Arthur Hayes, claims to pass along Ethereum’s staking yield on steroids as a 37% USD APY.
Almost two years after its spectacular blow-up, Three Arrows co-founder Zhu Su has helpfully offered advice to Ethena on how to manage risk.