USDe Proof of Reserves are typically provided on a weekly basis by 3rd party independent attestors including leading firms such Chainlink and Llama Risk. Following the events that have unfolded in the last few hours, we have provided a Proof of Reserves which has been linked below this message. Each of these independent 3rd parties mentioned above have confirmed USDe remains overcollateralised by more than $60m at >101.0%. No USDe backing resides directly on Binance or any centralized exchange. All funds are safe. Maximum transparency.

USDe is now live on @XLayerOfficial and OKX @wallet, with one-click USDe looping in OKX Wallet coming soon. The first USDe integration on X Layer is the @aave v3 instance allowing OKX wallet users to access USDe directly onchain. This is the first time the millions of users on OKX Wallet will be able to access Ethena's product suite.

Why did we launch our own stablecoin? Because $300M+ in stablecoins were sitting on ether․fi doing nothing. And that’s not how a neobank should work. ether․fi USD changes that. One native dollar across every product we ship: card, vaults, borrow, trade, send. Powered by @ethena Whitelabel. We didn’t build stablecoin infrastructure from scratch. Ethena already solved the hard parts. Reserves, minting, redemption, compliance, KYB, all managed end to end. We choose the reserve mix based on our risk preferences, they run the operations. What this means for you? The dollars between your swipes, the balance you haven’t deployed into a vault, the USDC sitting in your account after a top-up. None of it sits idle anymore.

⏳ Holding USDe? Put it to work with @ethena. 🔥 Hold USDe through #BinanceWallet# and earn up to 4.75% APR*. No lock-up, just passive rewards on what you already hold without staking needed. *Real-time APR is subject to change in real time. How to get started: Binance App → Wallet → Earn → [Hold to Earn] → Activate "USDe" 👇 Start earning today (open in mobile browser)

EtherFi is launching their own stablecoin, powered by Ethena Whitelabel. @ether_fi has >$300m of stablecoin deposits held across their platform. Reserves, mint and redeem, & compliance for @ether_fi USD will be managed end to end by Ethena. Since launching their category-defining Cash card in 2024, they have scaled to nearly $1 billion in cumulative spend and more than 100,000 active cards. The best stablecoin neobanks will move to own the entire stack and earn from idle deposit balances alongside their broader product suite.

The people building the spending layer on stablecoins, in one room. @gdog97_ from @ethena, @rooqster from @raincards, and us 👋 at The ether․fi Lounge. Oct 7 | 3:00pm | @token2049 Bring questions. Or complaints about your bank. Either works. RSVP →

Here's what happened @ethena in September: • Launched the @EthenaPay beta at the start of the month. • Partnered with @binance as our first venue for extending the basis trade into equity perpetuals. • USDe supply grew by over $700 million. • Standard Chartered initiated research coverage of Ethena, forecasting ~8x USDe growth over the next two years. • USDe became the second largest collateral asset and the largest dollar collateral asset across all of @Morpho, now backing two of the three largest markets on the protocol. • USDe rewards went live in the dedicated Ethena ecosystem market on @Aave V4 on Ethereum. • Completed a SOC 2 Type II audit against the Security Trust Services Criteria, receiving a clean opinion from an independent auditor with zero exceptions noted. • Announced that from the end of the month, there will be zero token incentives and inflation on a go-forward basis related to USDe. • USDe went live on TRON. • Binance Wallet enabled USDe rewards. Onwards.

Which crypto cards pay cashback? Which have no FX fees? Which are self-custodial? Our new crypto card dashboard compares 30 cards side-by-side so you don’t have to.

Standard Chartered has initiated research coverage of Ethena. They forecast potential USDe growth of ~8x in the next 2 years as the convergence of DeFi and TradFi accelerates. Unclear why they are so bearish, but worth a read regardless:

Earn 5% APR with USDe on Bybit Powered by @Ethena, USDe combines attractive yield with flexibility. Bybit users can also mint and redeem USDe directly through On-Chain Earn, providing another way to enter and exit USDe.

Since the initial airdrop in 2024 token incentives related to USDe growth have declined by roughly ~85% from 2024 to this year. As of the end of this month there will be zero token incentives and inflation on a go forward basis related to USDe. For all of those who participated and helped to bootstrap the product to where it is today: thank you for the support.

bStocks 🤝 Ethena 🤝 Binance bStocks will serve as tokenized spot collateral as Ethena expands its delta-neutral strategy into equity perpetuals. On-chain tokenization of securities continues to evolve. 🫡

Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the USDe collateral backing since launch. This expands the addressable market of underlying collateral from $2.5 trillion of crypto to $150 trillion+ of real-world assets. As part of the partnership, bStocks will serve as tokenized spot collateral, hedged with Binance USDT-denominated equity perpetuals - the same delta-neutral structure Ethena has securely executed across crypto assets since inception. Importantly, Binance provides lower ADL priority for eligible delta-neutral accounts including Ethena's, adding another layer of risk mitigation for USDe holders. Binance equity basis has averaged ~11%+ annualized over the past 6 months, while open interest has grown on average ~30% per month in the last 3 month period. We expect the market opportunity size for equity perpetuals to far exceed the $15b+ of crypto perpetuals captured by Ethena last cycle. Allocations begin today.

What if earning was as simple as holding? Activate Hold to Earn for stablecoins (USDS, USDe, U) then simply hold them in your Binance Keyless Wallet. No staking. No lock-up. A hold new way to earn is here 👉

Internet money meets memes. You can now launch coins paired with ethereum:0x57e114b691db790c35207b2e685d4a43181e6061 from @ethena, on StonkFun. Powered by @Sunrise.

Binance Wallet has enabled USDe rewards. USDe has been selected as one of only three assets eligible for @BinanceWallet's new Hold to Earn - and offers the highest rate available. Hold USDe and earn rewards automatically, paid by Binance.