Ethena Labs ensures USDe assets are stored in off-exchange custody solutions like Copper Clearloop, eliminating direct exposure to exchanges like Bybit.
Ethena Labs plans to integrate sUSDe into Aave-based lending via WLFI, enhancing its role in DeFi lending and borrowing activities.
When the cryptocurrency industry was horrified by the news of the Bybit breach, Ethena Labs acted quickly to reassure users. Under management by the company, the USDe stablecoin is claimed to remain safe despite the exposure to hedge positions on the exchange.
We are aware of the situation currently evolving with Bybit and are continuing to monitor developments.
As a reminder: all spot assets backing USDe are held in off exchange custody solutions, including ByBit via Copper Clearloop for this precise reason.
Not a single dollar of…
— Ethena Labs (@ethena_labs) February 21, 2025
Ethena Labs Ensures Safe Custody of USDe
Ethena Labs stressed in its official statement that all spot assets supporting
