Ethena Adds Bitcoin To Its Stablecoin USDe’s Backing

On Thursday April 4th right as Moon transited in kendra to Dev Guru Jupiter in the sky, Ethena Labs announced that they are now adding bitcoin into the backing assets for their USDe stablecoin, which means that other than going spot long ether while delta hedging eth perps they will now do the same with bitcoin. This is how Ethena maintains its USDe peg 1:1 to the US dollar.

This helps them scale and makes the product safer overall.

Dev Guru Jupiter rules long-term policy and strategy.

I See that due to Jupiter being fourth from Moon when they announced this, this will be an auspicious and well-informed move for Ethena.