During this week's Black Friday, the stablecoin $USDe experienced unprecedented market volatility.
However, Ethena Labs quickly responded by releasing proof of reserves. According to their published data, despite the market turbulence, $USDe has maintained an over-collateralization of approximately $66 million. Currently, $USDe has fully re-pegged.
This move is a direct response to the community's concerns and reflects the project's transparency and responsiveness at a critical moment.
USDe Proof of Reserves are typically provided on a weekly basis by 3rd party independent attestors including leading firms such as Chaos Labs, Chainlink, Llama Risk and Harris & Trotter.
On request from the community, we have provided a Proof of Reserves outside of the regular cadence following the market events in the last 24hrs which have been linked below this message.
Each of these independent 3rd parties have confirmed USDe remains overcollateralised by approximately ~$66m.
Maximum transparency.
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