Ethena: USDe Overcollateralization Exceeds $60 Million, Reserve Funds Not Held Directly on Binance or Other Centralized Exchanges

Odaily reports that Ethena stated on social media that, in light of recent market security incidents, the project has published its latest USDe proof of reserves. Independent third parties including Chainlink and Llama Risk have confirmed that USDe remains overcollateralized, with overcollateralization exceeding $60 million and a collateralization ratio above 101%.

Ethena emphasized that none of the reserve funds backing USDe are held directly on Binance or other centralized exchanges. USDe proof of reserves is typically provided once a week by independent third parties.