The stablecoin issuer Ethena Labs' protocol revenue has surpassed $290.2 million, ranking it among the top four in the industry, just behind Tether, Circle, and Sky. Its synthetic dollar stablecoin USDe captures funding rate arbitrage profits through a unique delta-neutral strategy (Spot long positions + Perptual Futures short positions hedging), achieving a $100 million revenue milestone in just 251 days, making it the second fastest protocol to reach this milestone in history. Despite facing regulatory uncertainties from the US SEC (whether USDe qualifies as a security or a payment stablecoin remains in doubt), and being temporarily unable to cater to US retail users, its recent daily average fee revenue has rebounded to $3.8 million. The protocol allocates 20% of fees for the buyback and destruction of the governance token ENA (with 58 million tokens already destroyed), and 94% of reserve assets are held in a Centralized Exchange for real-time risk management.

Gate News bot reports that BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) saw a market size increase of approximately 1 billion USD from March 26 to June 11, accounting for about half of the 2 billion USD increase in the U.S. tokenized treasury market during the same period. According to data from rwa.xyz, as of June 11, the size of BUIDL was 2.89 billion USD. It is the largest tokenized money market fund, comprising 40% of a 7.34 billion USD market. March 26 is a significant benchmark as Ethena Labs stopped increasing its holdings in the fund on this day to support its USDtb stablecoin. In 2025, USDtb drove most of BUIDL's growth, putting 90% of its reserves into the fund, totaling 1.3 billion USD. Thus, without Ethena's push, BUIDL achieved a remarkable 35% growth in less than three months, indicating a sustained demand for regulated high-yield cash instruments on-chain.

According to Gate News bot, monitored by Onchain Lens, the wallet associated with Mirana Venture has deposited 21.45 million USD worth of 71.27 million ENA into CEX.

Jump Crypto, the cryptocurrency division of Jump Trading, has strategically invested in Securitize, a tokenization platform. This indicates the recognition of on-chain capital markets by traditional finance. Securitize has received institutional investments from Jump and BlackRock, with its BUIDL fund reaching a size of $2.86 billion. They are also collaborating with Ethena Labs to develop compliant DeFi blockchain products called Converge.

According to ChainCatcher news and data from Token Terminal, approximately 90% of the assets of the stablecoin USDtb issued by Ethena Labs are supported by its LP shares in the BlackRock BUIDL fund, indirectly making it the largest liquidity provider of the fund, with a holdings scale reaching 1.3 billion USD.

PANews April 25 news, according to Token Terminal data, the stablecoin USDtb issued by Ethena Labs is supported by about 90% of its assets in LP shares of the BlackRock BUIDL fund, indirectly becoming the largest Liquidity Provider of the fund, with Holdings amounting to 1.3 billion USD.

PANews, April 4th news, Ethena Labs tweeted: USDe and sUSDe have officially launched on the BNB Chain. Users can use Ethena assets for exchanges, lending, and savings on the BNB Chain.

Odaily News Ethena Labs announced that USDe has been launched on the BNB Chain, allowing users to exchange, lend, and save Ethena assets on the BNB Chain.

DWF Labs CEO Andrei Grachev promised to provide more details next week about the $630 million in crypto assets backing USDf. USDf is a stablecoin issued by Falcon Finance, designed to be pegged to the US dollar, but it has recently struggled to maintain the $1 peg. Although Falcon claims its assets exceed collateral requirements, critics on social media question the liquidity and transparency of its reserve assets. Grachev stated that most of Falcon's crypto assets are held in stablecoins and Bitcoin, but about 96% of the reserve assets are off-chain reserves that cannot be independently verified. He also emphasized that USDf adopts a market-neutral strategy and claims that the peg mechanism of USDf is naturally maintained by traders. However, critics express concerns about the design of the stablecoin and potential liquidity risks.

In July 2025, the total amount of token unlocks for the top 10 is expected to exceed $782.35 million. Token unlocks occur under specific conditions, allowing for the trading of previously restricted tokens. The market should follow the unlock situation of the top ten encryption tokens this month, as these events will significantly impact market prices, investment decisions, and risk management strategies.

Odaily News Ethena Labs published details of the redemption plan for USDe token holders on the X platform. USDe token holders can submit redemption requests by filling out the electronic exchange form. The crypto world must include the following information. ·Full name, address, email and/or phone number ·Your public blockchain address or wallet account ID for holding USDe Token, as well as the quantity of USDe Token (including fractional holdings) ·As proof of ownership of the USDe Token, please include any of the following: ·Screenshot of the wallet interface showing your USDe balance and public blockchain address ·Or a signed message from a wallet holding USDe (for example, "I am submitting a USDe exchange request to Ethena GmbH"), including the public blockchain address and the signature. · or provided by the custodian

PANews June 26 news, according to Fortune, crypto giant Galaxy announced the completion of its first venture capital fund raising, totaling $175 million, exceeding the original target of $150 million. This fund is the first time Galaxy has introduced external capital, focusing on investments in stablecoins, Decentralized Finance, and other areas where TradFi and Blockchain intersect. Galaxy has deployed approximately $50 million into projects such as Monad and Ethena.

According to Gate News bot and The Block, the developers of synthetic USDtb, Ethena Labs, and the real-world asset tokenization (RWA) company Securitize have achieved around-the-clock atomic transfers between BlackRock's tokenized fund BUIDL and the Ethena stablecoin supported by the fund.

According to the Gate News bot message, monitored by Lookonchain, Whale 0x41Fc deposited 17 million ENA (5.41 million USD) to multiple CEXs through Flowdesk about 40 minutes ago.

According to Gate News bot, monitored by Ai Yi, Whale 0xEe6...8d6C5 deposited 6.39 million ENA to CEX 9 hours ago, valued at 2.16 million USD, suspected of selling. This portion of ENA was received from the Ethena Labs multi-sig addresses two weeks ago, possibly as an institutional/whale Airdrop unlock.

According to the Gate.io News bot, data monitored by Spot On Chain shows that a wallet suspected to be associated with Arca received approximately 9.04 million ENA Tokens from Flowdesk, worth 3.64 million dollars. Data records show that the Wallet completed two ENA Token transactions in the past year, making a profit of 1.46 million dollars, with a return rate of 14.6% and a win rate of 50%. Source: Wu Says

According to Golden Finance, on-chain analyst Spot On Chain (@spotonchain) monitored a wallet suspected of being associated with Arca that received approximately 9.04 million ENA tokens (about $3.64 million) from Flowdesk. Data shows that this wallet has traded ENA tokens twice in the past year, achieving a profit of about $1.46 million, with a return rate of 14.6% and a win rate of 50%.

BlockBeats news, on May 15, according to Spot On Chain monitoring, a wallet possibly associated with Arca received 9.05 million ENA (approximately 3.64 million USD) from Flowdesk 9 hours ago, marking the third ENA transaction for this address. In the past year, this wallet has traded ENA twice, netting a profit of 1.46 million USD (+14.6%), with a win rate of 50%.

Jump Crypto strategically invested in Securitize, demonstrating traditional finance's recognition of the tokenization market. Securitize currently serves top institutions like BlackRock, and the BUIDL fund has reached a size of $2.86 billion. It is collaborating with Ethena Labs to develop the compliance DeFi blockchain Converge, which is expected to launch this quarter.

According to Gate.io News bot, TheBlock reports that Ethena Labs and Ethena Foundation have officially announced a partnership with TON Foundation. According to the cooperation details, the synthetic stablecoins USDe and sUSDe will be introduced into the Telegram ecosystem. In the specific implementation plan, sUSDe will operate in the form of tsUSDe on the TON network, allowing Telegram users to directly access this asset. In addition, related products of Ethena have been confirmed to be integrated into the native Telegram wallet, supporting TON-compatible wallets such as Tonkeeper and TONHub.

The founder of Ethena pointed out that Ethena and Tether are not competitors, but rather have a relationship that promotes mutual growth. In a market where 70% is priced in USDT, each short position added by Ethena creates demand for USDT, driving its rise. Traders have paid 10%-30% annual Interest Rate in USDT to go long on Perptual Futures, and Ethena is converting this demand. Tether and Ethena form a "barbell strategy," which is the ultimate development form of the industry, as the middle path is difficult to succeed.

Today, the price of Ethena (ENA) fell along with the market, currently reported at 0.2575 USD during the Asian afternoon session. As another token unlock approaches, it has continued a 17% fall over the past month.

Gate News Bot news, July 2, according to CoinMarketCap data, as of the time of writing, ENA (Ethena) is currently priced at $0.26, down 1.33% in the last 24 hours, with a high of $0.29 and a low of $0.25. The 24-hour volume reached $101 million. The current market capitalization is approximately $1.572 billion, a decrease of $21.2647 million compared to yesterday.

PANews June 25 news, according to Cointelegraph, Ethena Labs has reached an agreement with the Federal Financial Supervisory Authority of Germany (BaFin) to initiate a 42-day redemption process for USDe stablecoin holders. BaFin stated that USDe holders must submit their requests to Ethena by August 6.

Odaily News Ethena Labs announced on Wednesday that the Federal Financial Supervisory Authority of Germany (BaFin) has reached an agreement with the company's German subsidiary Ethena GmbH regarding the redemption plan for USDe stablecoin holders, and has initiated a 42-day redemption process for stablecoin holders. The Federal Financial Supervisory Authority (BaFin) stated that USDe holders must submit their redemption requests directly to Ethena GmbH by August 6. The process will be supervised by a special representative appointed by BaFin.

Golden Finance reports that Ethena Labs has partnered with real-world asset tokenization company Securitize to enable around-the-clock conversion between BlackRock's tokenized fund BUIDL and Ethena Labs' USDtb. This enhances the way institutional users access on-chain US dollars.

Ethena Labs has announced that its Season 3 ENA rewards will be distributed on May 1, 2025 at 16:00 UTC, representing 3.5% of the total ENA supply. In this round of rewards, the token lock-up requirement has been removed, and only one-third of the sENA rewards of the top 2,000 wallet addresses will be locked, which is less than one-half of the previous quarter. The rewards for the rest of the addresses will be released instantly. Based on current ENA prices, the total value of the Q3 airdrop is around $178.5 million, which is similar to the $202.5 million in Q2. Ethena said it will continue to issue at least 3.5% of supply in the fourth quarter for a period of six months. Users can view their points through the Ethena UI and view them in

According to BlockBeats news, on May 1, Ethena Labs announced the third quarter ENA Airdrop allocation, starting on May 1, 2025, at 16:00 (UTC). 3.5% of the total ENA supply will be allocated as rewards for the third quarter. There will be no eligibility verification period, and the allocation will take place immediately on May 1.

PANews, April 30th news, according to Ethena Labs announcement, users can now stake eUSDe May Pendle PT on Aave, and sUSDe July PT will also be launched. This move marks the first time that billions of dollars in PT assets are incorporated into mainstream lending markets in DeFi, supporting operations at an interest rate of about 4%. Users can achieve an annual percentage rate of approximately 25% with 5x leverage. Meanwhile, within the next month, eUSDe and USDe PT deposits will receive 2x Ethena rewards, while sUSDe PT will receive 1x rewards.

Gate.io News bot message, according to @tomwanhh's data panel, the APY of Ethena sUSDe and Sky sUSDs has decreased to 4.7% and 4.48% respectively, close to the yield level of the US Treasury T-Bill at 4.24%. Data shows that after entering April, the staking rate of Ethena USDe has dropped below 45%. At the same time, the supply of sUSDe has decreased from a high of 4.5 billion USD at the end of December 2023 to the current 2.11 billion USD. Source: Wu Shuo

According to FXStreet, this week, the Crypto Assets market will experience significant Fluctuations, with major alts unlocking tokens worth over $484 million. According to Wu Blockchain, it is expected that within the next seven days, six types of one-time tokens from alts will unlock tokens worth over $5 million each. Historically, token unlocks often trigger greater dumping pressure, so traders and investors need to closely follow this critical period.

ENA staking has attracted the attention of many investors, with an Annual Percentage Rate of 8%-15%, outperforming traditional investments. However, price fluctuations and liquidity risks cannot be ignored. Operations should be carried out with caution, choosing reliable platforms and diversifying investments to ensure returns and safety.

Gate News bot, Sky (formerly MakerDAO) founder Rune Christensen and Ethena founder Guy Young recently joined The Big Brain Podcast to explore topics such as how the DeFi ecosystem is maturing, why centralized trade-offs are no longer taboo, and how AI agents and protocol generalization are changing the future of finance. Rune argues that the era of DeFi's ideological frenzy is gone. DeFi, once driven by a lofty vision and decentralization supremacism, has now evolved into a solid, value-based industry, "In the past, you would raise a lot of money with high subscription rights and then cause the market to crash, now the key is: If you want to change the world of tomorrow, can you run a sustainable business today?" Real-world assets, once ridiculed, are now key to achieving this goal. Both founders agree that the future of DeFi will no longer be dominated by human users, but by AI agents. Rune envisions a shift to "hyper-rational, capital-focused" where intelligent agents will optimize across protocols at machine speed.

Gate News bot message, by selecting Ethena (ENA) as its first investment altcoin, Mellow Finance made a big bet during the market adjustment. With the widespread emergence of alts, the fund issued 15,147,000 ENA to individual Wallets, worth approximately $4.48 million.

PANews May 5 news, Ethena Labs announced on platform X that USDe has been launched on Hyperliquid and HyperEVM. It is reported that HyperCore users will receive daily rewards, which will be automatically airdropped to the users' USDe spot exchange balance.

According to the Gate.io News bot, data from Tokenomist shows that several crypto asset projects will experience token unlocks within the next 7 days. Among them, projects such as LAYER, ENA, SPEC, KAS, MOVE, and NEON will have a single unlock amount exceeding $5 million. At the same time, projects like SOL, WLD, TIA, DOGE, TAO, AVAX, SUI, DOT, IP, and MORPHO will undergo linear unlocks with daily unlock amounts exceeding $1 million. The total value of the unlocked tokens for these projects reaches $389 million. Source: Wu Says

PANews, June 15th news, according to Onchain Lens monitoring, a Whale withdrew 15.15 million ENA from Bytbit one hour ago, worth approximately 4.48 million USD.

According to the Gate.io News bot, community feedback indicates that the Simple Earn USDe flexible annual percentage rate experienced significant fluctuations between April 11 and 12. Data shows that the product's annual percentage rate remained above 400% from 21:00 on April 11 to 21:00 on April 12, lasting nearly 24 hours. During the same period, the annualized yield of Ethena sUSDe remains around 4.87%, while the USDe interest rates of mainstream lending protocols such as Morpho and Aave remain stable. Source: Wu Shuo

BlockBeats news, on May 31, Ethena announced that its stablecoin USDe and the TON staking version tsUSDe have been integrated into the TON on-chain, allowing users to access them through mainstream non-hosted wallets.

USDe has been launched on TON Space, and users can exchange it for tsUSDe within Telegram for staking, participating in a 16-week event, with a maximum annual yield of 18%, including an 8% base yield and up to 10% additional incentives. Holders need to complete qualification verification, and the additional incentive will decrease weekly to 5% in the final stage, with a maximum reward of 10,000 tsUSDe per wallet.

USDe has been launched on TON Space, and users can exchange it for tsUSDe within Telegram for staking, participating in a 16-week event, with a maximum annual yield of 18%, including an 8% base yield and up to 10% additional incentives. Holders must complete qualification verification, and the additional incentives will decrease weekly to 5% in the final stage, with a maximum of 10,000 tsUSDe rewards available per Wallet.

Golden Finance reports that Etherscan data shows the supply of the stablecoin USDe issued by Ethena Labs has exceeded 5 billion, currently approximately 5,010,132,819 coins, with 22,922 holders and a total of 1,118,248 transfer transactions.

According to Gate.io News bot, Wu Shuo reported that Ethena Labs officially announced the launch of the USDe Proof of Reserves system. This system is jointly created and operated by four organizations: Harris & Trotter, Chaos Labs, LlamaRisk, and Chainlink. Proof of Reserves will be published weekly with verification results. The verification data sources include blockchain data, custodian information, and data provided by exchange partners, which will be independently reviewed by the aforementioned institutions. Ethena Labs also clearly states that the reserve fund assets are not included in the USD value calculation of the USDe backing assets.

Ethena Labs announced the activation of E-Mode on Aave, increasing the maximum LTV of USDe to 90%, eliminating the global lending cap, and raising the supply limit of USDe to approximately $1 billion. The sUSDe cap has returned to $1.5 billion, with currently $400 million available; PT products have increased to $550 million and $340 million, with a new PT set to launch soon. USDe is pegged to the price source of USDT, with an Annual Percentage Rate of about 8%, and PT yields exceeding 10%.

Odaily News Ethena Labs released the USDe asset custody proof, disclosing that as of April 26, the supply of USDe tokens is 4.765 billion, with 44.695 million USD available in Ethena's mint/redeem contract to meet redemption demands, 60.95 million USD in the reserve fund, and Copper's custody asset scale is approximately 663 million USD.

The Ethereum re-staking protocol Ether.fi has launched a $40 million venture capital fund, ether.fi Ventures Fund I, to support founders of projects in the encryption industry. The fund team has previously invested in projects such as Monad, Ethena, and Usual. The first batch of investment projects includes Resolv, Rise Chain, and Symbiotic.

According to Gate.io News bot, Wu Shuo reported that Ethena Labs has reached an agreement with the German financial regulator BaFin to liquidate all operations of Ethena GmbH and will also abandon the application for MiCAR authorization in Germany. Starting from March 21, Ethena GmbH has suspended all minting and redemption operations. These operations have been fully taken over by Ethena (BVI) Limited, and all original whitelisted users have been transferred to the new entity. Currently, Ethena GmbH no longer has any users or direct clients.

Ethena Labs has announced an agreement with BaFin Germany to phase out Ethena GMBH's activities in Germany and relinquish the MiCAR license. As of March 21, 2025, there is no activity at Ethena GMBH, all activities are performed by Ethena (BVI) Limited, and whitelisted users have been transferred to Ethena (BVI) Limited and have nothing to do with Ethena GMBH.

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