The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the end of September.
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Ethena Expands USDe Backing Strategy Into Tokenized US Equities
TL;DR Ethena is expanding the basis-trade strategy behind USDe into tokenized U.S. equities. Binance bStocks can be used as tokenized spot assets while equity perpetual futures hedge the market exposure. The strategy broadens USDe’s backing model beyond crypto-native basis trades, but it also introduces equity-market and venue-specific risks. Ethena is pushing the trading strategy behind […]