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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.

Aave proposal to peg Ethena’s USDe to USDT raises concerns

While keen to avoid being labeled as a stablecoin, Ethena’s USDe is being used as such across some of DeFi’s biggest players.

DeFi darlings Dough Finance, Ethena, and Minterest were hit by major incidents last weekend proving again that the sector can be a minefield.

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.