Ethena: USDe Remains Overcollateralized by Over $60M, Backing Assets Not Held Directly on Binance or Other CEXs

October 30: Ethena posted on X that USDe proof of reserves is typically provided weekly by independent attestation providers such as Chainlink and Llama Risk. In light of events over the past few hours, Ethena has provided proof of reserves. The aforementioned independent third parties have confirmed that USDe remains overcollateralized, with a surplus exceeding $60 million and a collateralization ratio above 101.0%. Ethena said USDe's backing assets are not held directly on Binance or any centralized exchange, and that all funds are safe.