Ethena’s Bitcoin Backing of USDe Raises Concerns of Terra Luna Repeat

Ki Young Ju, the CEO of data analytics platform CryptoQuant, raised concern about Ethena Labs’ decision to back its recently launched USDe stablecoin with Bitcoin.  In an announcement on Thursday, Ethena Labs revealed that Bitcoin (BTC) has been integrated as a backing asset for USDe. This means that Bitcoin now serves as collateral to uphold...

Read full story at Coin Edition >