Experts worry Ethena’s Bitcoin-backing strategy for USDe could bring ‘contagion risks’
CryptoQuant CEO Ki Young Ju has voiced concerns about Ethena’s recent decision to incorporate Bitcoin as a backing asset for its USDe synthetic dollar. On April 4, Ethena Labs revealed plans to onboard BTC as a backing asset for USDe to create a safer product for its users. The firm said: “After the unprecedented growth...