Ethena: USDe reserves remain overcollateralized, with no supporting funds directly held at Binance

October 30 - Ethena posted on social media stating that the proof of reserves for USDe is typically provided weekly by independent third-party attestation firms, including leading companies such as Chainlink and Llama Risk. In light of the events that occurred over the past few hours, an updated proof of reserves has been provided.

Each of the aforementioned independent third-party firms has confirmed that USDe remains overcollateralized, with overcollateralization exceeding $60 million and a collateralization ratio greater than 101.0%. None of the supporting funds for USDe are held directly on Binance or any centralized trading platform.