Did Binance Break USDe? Ethena Says It Was Never a Depeg

Ethena USDe. Photo by BeInCrypto As $1 billion in redemptions rippled through the market, Ethena Labs insists its synthetic dollar, USDe, worked exactly as designed and that Binance’s own pricing systems triggered the meltdown. This weekend’s market saga affected all crypto sectors, with stablecoins also caught in the crosshairs following a supposed glitch at the world’s largest exchange. Ethena Defends Against $1 Billion Binance Meltdown In a detailed post on X (Twitter), Ethena founder Guy Young pushe ...