Ethena’s Synthetic Dollar USDe Exceeds $1B Supply

LISBON, Portugal--(BUSINESS WIRE)--Just one month after Ethena Labs launched USDe, a crypto-native synthetic dollar, the total supply has exceeded 1 billion. This is the fastest time period in which a dollar based crypto asset has reached 1 billion dollars into mainnet. Backed by Dragonfly, BitMEX founder Arthur Hayes and every major derivative exchange in crypto, Ethena’s synthetic dollar USDe was brought to market alongside the value accruing “Internet Bond” sUSDe. While USDe is a comparable