Ethena Labs Onboards Bitcoin as a Backing Asset for the Crypto Project’s Synthetic Dollar

Synthetic dollar protocol developer Ethena Labs has added Bitcoin (BTC) to the backing of its USDe stablecoin, the firm’s flagship product. Announcing via the social media platform X, Ethena Labs says that using Bitcoin to back USDe is “a crucial unlock which will enable USDe to scale significantly” from its current supply of $2 billion....