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USDe's Bitcoin collateral has exceeded $500 million

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2024-04-08 22:15:39
The Bitcoin collateral of USDe, a subsidiary of Ethena, is currently approximately $537 million. This amount accounts for approximately 26% of its total asset reserves. Other reserve assets include $714 million in Ethereum, $353 million in current pledged Ethereum, and $365 million in Tether USDT. Ethena's growth manager Seraphim Czecker said that the large amount of Bitcoin reserves proves that the platform is ready for the upcoming halving event. The halving is expected to take place around April 20th, and the block rewards for Bitcoin will be reduced by 50% to 3.125BTC.
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