Ethena’s risky path: A synthetic stablecoin cautionary tale
The alternative stablecoin market is evolving, and projects like Ethena are leading the way, with a total value locked of $2.7 billion.
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The alternative stablecoin market is evolving, and projects like Ethena are leading the way, with a total value locked of $2.7 billion.
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CointelegraphRelated market context
SEC’s Hester Peirce wants to end crypto’s KYC honeypots before stablecoin rules create more of them
US Securities and Exchange Commission (SEC) Commissioner Hester Peirce wants financial firms to stop stockpiling customer data aft...
Visa cuts reported stablecoin volume but there’s no proof payments fell
Visa’s September 18 data refresh lowered its adjusted stablecoin volume measure, while its adjusted transaction count fell by less...
Crypto Hacks: Three Projects Hacked in One Day as Losses Hit Over $11M
Three crypto projects were attacked on September 24, suffering combined losses of more than $11M. Attackers drained around $1.8M f...
Fed proposed stablecoin rule could trigger a 48-hour liquidation run
The Federal Reserve's proposed rules for the payment stablecoin issuers it supervises include a crisis clock measured in hours. An...
HIFI Raises $37M To Build Stablecoin And Tokenized Market Infrastructure
HIFI has raised a $37 million Series A led by Left Lane Capital. The company says the funding will expand stablecoin payments, car...
Ethena Starts Backing USDe With Tokenized Stocks on Binance, Its First Equity Basis Venue
Ethena Labs will start backing its USDe synthetic dollar with tokenized U.S. stocks, naming Binance as the first venue for extendi...