Ethena's launch of UStb, backed by BlackRock, could enhance stability and broaden adoption in the DeFi space, despite market fluctuations. The post Ethena debuts UStb stablecoin backed by BlackRock to complement USDe appeared first on Crypto Briefing.
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
Ethena Labs announced on X on September 26 its newest product offering, UStb. The company revealed that UStb would be backed up by BlackRock BUIDL.
TL;DR Ethena has launched its new stablecoin UStb, designed as an alternative to USDe, offering stability with a differentiated risk profile in a volatile market. UStb will be fully backed by BlackRock's tokenized BUIDL fund, which manages over $522 million in assets, ensuring its collateralization.
Ethena Labs is launching a new stablecoin project fully backed by BlackRock's Ethereum-based tokenized fund and Securitize.
Ethena Labs has confirmed that the newly launched UStb stablecoin is a “wholly independent product”, and independent of its already existing USDe stablecoin.
Ethena Labs, the developer of the Ethereum-based synthetic dollar protocol, has announced the launch of UStb, a new fiat stablecoin. Backed by the BlackRock USD Institutional Digital Liquidity Fund (BUILD) and in partnership with Securitize Markets LLC, UStb offers a distinct alternative to the existing USDe stablecoin.
Ethena (ENA) has announced a new stablecoin dubbed UStb, which is to be launched in collaboration with Securitize. Securitize is the real-world asset tokenization platform for the BlackRock USD Institutional Digital Liquidity Fund, BUIDL.
Ethena Labs is teaming up with BlackRock to introduce a brand-new stablecoin, UStb (USTB). This exciting project will leverage BlackRock's tokenized USD Institutional Digital Liquidity Fund (BUIDL), which maintains a stable value of $1 per token.
Ethena has announced plans to introduce a new stablecoin, UStb, which will be backed by BlackRock's tokenized U.S. Treasuries fund, known as BUIDL.
Ethena Labs has announced the introduction of UStb, a new stablecoin fully backed by BlackRock's on-chain BUIDL fund, developed in partnership with Securitize. This product is an additional fiat stablecoin alongside USDe, offering a differentiated risk profile to users and exchange partners.
Ethena Labs has announced the introduction of UStb, a new stablecoin fully backed by BlackRock's on-chain BUIDL fund, developed in partnership with Securitize. This product is an additional fiat stablecoin alongside USDe, offering a differentiated risk profile to users and exchange partners.
Ethena Labs has announced the upcoming launch of UStb, a new stablecoin that will be backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
Ethena's synthetic stablecoin USDe can benefit from incorporating UStb during periods of weak funding conditions, Ethena Labs said.
Ethena Labs on Thursday said it will launch UStb stablecoin collateralized by BlackRock and Securitize, enabling a separate fiat stablecoin product alongside USDe. UStb will be fully backed by BlackRock BUIDL in partnership with Securitize.
Reserves for UStb will be invested in BUIDL, which in turn holds U.S. dollars, U.S. Treasury bills, and repurchase agreements.
Ethena's existing decentralized synthetic dollar, USDe, is now the fifth-largest stablecoin, with a $2.6 billion circulating supply.
With high anticipation of a bull run in 2024, altcoins are preparing for a bull run season. Amidst the plethora of altcoins, the newly launched token of Ethena Labs, ENA price predictions project a high likelihood of an uptrend.
Markus Thielen, the Head of Research at 10x Research, savvy traders are shifting their focus from Bitcoin to promising altcoins, and you might want to pay attention. Recent trends show that trading volumes for altcoins have surged as traders look for high-risk, high-reward opportunities amidst changing market dynamics.
Ethena Labs, a leading decentralized finance (DeFi) provider known for its synthetic dollar operations, experienced a major security breach on September 18. Hackers compromised the front end of Ethena's website, prompting an immediate response from the company.
Ethena Labs, the organization responsible for the decentralized synthetic dollar protocol, has suspended its website activities after a security breach on its domain registrar's account. To avert further harm, the company posted a notice on X (previously Twitter) and instructed users not to engage with any site or application that purports to be the Ethena
Binance founder and former CEO Changpeng Zhao (CZ) is set for imminent release, confirmed by the US Federal Bureau of Prisons (BOP).
Hackers attacked synthetic dollar issuer Ethena, but the protocol said its core blockchain infrastructure remained uncompromised. On Sept. 18, bad actors successfully breached the website of decentralized finance service provider Ethena Labs (ENA).
Web3 security platform Blockaid recently detected a potential front-end attack targeted towards Ethena Labs. Reportedly, the attackers used the latest version of Inferno drainer in this attack.
The Ethena website appears to have suffered a front-end attack, and users are encouraged not to interact with the platform.
The project noted the protocol itself is unaffected, but users should avoid “any site or application purporting to be the Ethena frontend."
Ethena Labs' frontend attack highlights the critical need for robust security measures to protect user interactions and maintain trust in DeFi platforms. The post Ethena Labs suffers frontend attack, confirms protocol remains unaffected appeared first on Crypto Briefing.
The alternative stablecoin market is evolving, and projects like Ethena are leading the way, with a total value locked of $2.7 billion.
Based on the latest data, Ethena's yield-generating stablecoin, USDE, has experienced a dramatic contraction in supply since July 4, 2024. Over the span of less than two months, its market capitalization has decreased by $770 million. Ethena's USDE Supply Plummets as Competition Heats Up From Aug. 23 to Aug.
Ethena whales have dumped a notable 22 million ENA, worth $6.9 million, to Binance.
The cryptocurrency space maintains sideways actions as Bitcoin sways above and below the $60,000 mark. Amidst the volatility, four Ethena (ENA) whales unstaked and deposited 15.86 million coins (worth over $4 million). The transaction, which happened through Binance exchange over the past 24 hours, saw the whales encountering losses of over $5 million.
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
Binance has announced that it will be delisting a number of spot trading pairs. The reason for this is Binance's evaluation of all listed spot trading pairs on a regular basis, analysis of their performance and liquidity.
Data from Token Unlocks revealed that four major token unlocks were scheduled for August between the 19th and the 25th. According to Token Unlocks, 54 million PIXEL and 9.54 million AVAX would be released on August 19, while 18.94 million ID and 14.89 million ENA would be released on August 22 and August 25, respectively.
It was a sea of red in the cryptocurrency market on Aug. 16 as Bitcoin dropped below the key support level of $58,000. Most altcoins were deep in the red, remaining in a bear market.
Cryptocurrency prices held steady on Wednesday as a sense of calm returned in the market after the encouraging US Producer Price Index (PPI) report. Bitcoin, the biggest crypto in the industry, crossed the important resistance point at $60,000 while the market cap of all tokens jumped to over $2.14 trillion.
With the BTC price hovering close to its $59,000 mark, the crypto market has displayed stability in the buying and selling pressure. This indicates a high possibility of a bullish rebound in the coming time.
Ethena, Pepe and Luna Classic are our top cryptocurrencies to watch this week.
Solana's doing well on the price front, but there may be more good news.
Ethena Labs has announced the launch of its stablecoin, USDe, on the Solana network as of August 7.
USDe was made available on Solana and became integrated with multiple Solana-based DEXs and DeFi protocols, including Kamino, Orca and Drift.
On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin's reserve backing.
Ethena Labs has expanded its “synthetic dollar” USDe to the Solana blockchain and revealed intentions to add the SOL token as a backing asset for the stablecoin, according to an Aug. 7 statement. USDe's integration with Solana was achieved through LayerZero's omnichannel fungible token (OFT).
TL;DR Ethena Labs has integrated its synthetic stablecoin USDe into the Solana blockchain, aiming to overcome challenges associated with stablecoins and provide a robust and decentralized alternative. USDe is a crypto-native synthetic asset that stands out from traditional stablecoins due to its scalability and censorship resistance.
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Ethena Labs has announced the expansion of its USDe stablecoin to the Solana blockchain. This strategic integration not only broadens USDe's reach but also introduces a novel approach to stablecoin mechanics in the rapidly evolving world of decentralized finance.
This move advances stablecoin evolution and showcases Ethena Labs' commitment to solving key crypto challenges. USDe, Ethena Labs' synthetic dollar, is designed to offer a scalable and censorship-resistant alternative to traditional stablecoins.