Ethena states that USDe is overcollateralized by more than 60000000 USD, with a collateralization ratio above 101%
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AT A GLANCE
Ethena says third parties confirmed USDe is overcollateralized by more than 60000000 USD, with a collateralization ratio above 101.0%。
Article
Ethena：USDe still overcollateralized by more than 60000000 USD, and the backing assets are not held directly on Binance or other CEX
PANews October 30 According to the news, Ethena stated in a post on X that USDe Proof of Reserves is usually provided weekly by independent third-party attestation providers such as Chainlink and Llama Risk. In light of events over the past few hours, Ethena has provided Proof of Reserves. The above independent third parties have confirmed that USDe remains overcollateralized, with the excess portion exceeding 60000000 USD, and its collateralization ratio is above 101.0%. Ethena stated that USDe the backing assets are not held directly on Binance or any centralized exchange, and all funds are safe.
PANews reported that Ethena posted USDe information related to Proof of Reserves on X.
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Ethena stated that USDe Proof of Reserves is usually provided weekly by independent third-party attestation providers such as Chainlink and Llama Risk.
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The report stated that the above independent third parties confirmed USDe remains overcollateralized, with the excess portion exceeding 60000000 USD, and its collateralization ratio is above 101.0%。
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Ethena stated that USDe the backing assets are not held directly on Binance or any centralized exchange, and all funds are safe.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Overcollateralization means that the value of the collateral assets cited in the report exceeds the corresponding USDe scale; a collateralization ratio above 101.0%means that its claimed asset coverage exceeds 100%. This information comes from Ethena's statement and PANews' account.
Why it matters to readers
The degree of reserve coverage and how backing assets are held affect users' assessment of USDe asset safety and its reserve status.
Beginners should focus on the specific Proof of Reserves, changes in the collateralization ratio, and whether the claim that “all funds are safe” is supported by verifiable materials; they should not make judgments based solely on a single statement.
Risks and unknowns
The original text does not provide a link to the specific Proof of Reserves or detailed data.
The original text does not explain what exactly the “events over the past few hours” were.
“All funds are safe” is Ethena's statement; the original text does not provide sufficient materials for independent verification.
The original text does not specify where the backing assets are held.
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Related concepts
Overcollateralization
This term is not in the glossary yet. Browse related concepts in the glossary.
