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cover-imageCryptonews
March 21, 2025

BaFin Bans Ethena's USDe Token in Germany Over Approval Process Flaws

Germany's BaFin enforces a ban on Ethena GmbH's USDe Token sales, citing approval process flaws and MiCAR noncompliance. The regulator freezes assets and orders website shutdowns while secondary trading remains unaffected. The post BaFin Bans Ethena's USDe Token in Germany Over Approval Process Flaws appeared first on Cryptonews.

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cover-imageCointelegraph
March 21, 2025

German financial regulator prohibits sales of Ethena GmbH USDe

BaFin, the German financial regulatory authority, has prohibited all public sales of Ethena GmbH's USDe — a synthetic dollar — claiming that the token violates the European Union's MiCAR regulations.According to the announcement from the regulator, BaFin has ordered the firm to freeze the reserve assets that back the token, close down the website portal, and has ordered the firm to stop taking new customers. In a translated statement, the regulator wrote: "The BaFin also has reasonable grounds to suspect that Ethena GmbH in Germany sells securities in the form of sUSDe tokens from Ethena OpCo. Ltd.

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cover-imageCointelegraph
March 21, 2025

German financial regulator prohibits sales of Ethena's USDe

BaFin, the German financial regulatory authority, has prohibited all public sales of Ethena GmbH's USDe (USDe) — a synthetic dollar — claiming the token violates the European Union's MiCAR regulations and accused the firm of selling unregistered securities in the region.BaFin ordered Ethena to freeze the reserve assets that back the token, close down the website portal, and ordered the firm to stop taking new customers, the regulator wrote in an announcement. BaFin also appointed a representative to monitor the ongoing situation with Ethena.

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cover-imageCrypto Economy
March 18, 2025

Ethena & Securitize Unveil Converge, a Blockchain Built for TradFi and DeFi Integration

TL;DR Unified TradFi & DeFi Platform: Ethena and Securitize unveil Converge, a cutting-edge EVM-compatible Layer-1 blockchain that seamlessly integrates traditional finance with decentralized finance for tokenized assets and digital dollars. Dual Model for Diverse Users: Converge serves both retail investors with permissionless DeFi access and institutional players via regulated, permissioned applications.

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cover-imageCointelegraph
March 17, 2025

Ethena Labs, Securitize launch blockchain for DeFi and tokenized assets

Stablecoin developer Ethena Labs and real-world asset (RWA) tokenization company Securitize are launching a new blockchain for retail and institutional investors seeking access to the DeFi and tokenization economies. According to a March 17 announcement, the forthcoming Converge blockchain is an Ethereum Virtual Machine that will provide retail investors with access to “standard DeFi applications.

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