Ethena Assures Users Its Collateral Is Safe Despite $8.8M Binance Exposure
Photo: Crypto Economy
TL;DR Ethena reported approximately $8.8 million in unrealized profit-and-loss exposure to Binance, significantly below its reserve fund of more than $60 million. Independent verifiers Chainlink and LlamaRisk confirmed that USDe remained overcollateralized above 101%. The protocol said its collateral remains with institutional custodians rather than Binance exchange wallets, limiting its direct exposure to the security ... Read more
Source: Crypto Economy
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