Ethena says USDe collateral ratio tops 101%, no funds held directly on CEXs
- —USDe collateral ratio stands at 101.0%, with over $60 million in surplus collateral
- —Ethena says it does not custody USDe backing directly on Binance or other CEXs
- —The update was unscheduled and verified by Chainlink and LlamaRisk amid the Binance incident
- —Binance exposure was 12% of collateral as of Sept. 30, per Ethena's governance report
Why it matters: The disclosure aims to reassure USDe holders after a security incident at Binance, Ethena's largest venue partner.
Source: TokenPost