Ethena Labs has agreed to exit the German market after regulator BaFin cited "serious deficiencies" with USDe compliance.

Ethena Labs is officially closing its German branch and EU operations after a previous MiCA application rejection. For the past month, the firm has been preparing to withdraw from this market.

Ethena Labs abandoned its MiCAR application and shuttered its German operations following enforcement action by BaFin. The synthetic stablecoin issuer migrated users to its British Virgin Islands entity, avoiding European regulatory hurdles. The case shows how MiCAR regulation reshaped Europe's stablecoin landscape, with concerns about USDe's yield-bearing variant potentially qualifying as a security. The post Ethena Labs Exits Germany, Ends MiCAR Pursuit Following BaFin Agreement appeared first on Cryptonews.

Synthetic stablecoin developer Ethena Labs is winding down its German operations less than a month after regulators identified “deficiencies” in its dollar-pegged USDe (USDE) stablecoin, signaling heightened scrutiny around crypto assets in Europe's largest economy.Ethena Labs reached an agreement with Germany's Federal Financial Supervisory Authority, also known as BaFin, to cease all operations of its local subsidiary, Ethena GmbH, according to an April 15 announcement. Source: Ethena Labs As such, Ethena Labs “will no longer be pursuing MiCAR authorization in Germany,” the company said, referring to the Markets in Crypto-Assets Regulation.

TL;DR Ethena reached an agreement with the German regulator BaFin to shut down its operations in Germany, transferring all existing users to its entity in the British Virgin Islands. The decision follows a warning from BaFin about “serious deficiencies” in Ethena's USDe token. The price of the ENA token has dropped by 5.

In a surprising development, decentralized finance (DeFi) protocol Ethena Labs has announced via its official X account that the firm has reached an agreement with German watchdog BaFin to end operations in the country. The company also announced that it is withdrawing its MiCAR application in Germany.

Ethena Labs (ENA) announced it would no longer pursue MiCA authorization for the German market, instead stopping all minting and redemption activity for USDe originating with Ethena GMBH.

Ethena Labs, the team behind the synthetic stablecoin USDe, announced it has shut down its German subsidiary, Ethena GmbH. Ethena Labs will also no longer pursue regulatory approval under the EU's Markets in Crypto-Assets Regulation.

Decentralized finance (DeFi) protocol Ethena has agreed to wind down its operations in Germany.

Ethena, a synthetic dollar protocol, has partnered with the decentralized reinsurance platform Re to enable users to earn yield by depositing stablecoins into reinsurance risk pools.

Ethena has surged by 6.67% in 24 hours, setting for a potential breakout from inverse head and shoulder pattern.

RedStone has expanded its support for Ethena Labs' stablecoins USDe and sUSDe to the BNB Chain, triggering a 14% price surge.

The total cryptocurrency market capitalisation has dropped sharply to $2.4 trillion, down from its December 2024 peak of $3.9 trillion. This close to 40% contraction over roughly four months reflects growing investor unease amid escalating geopolitical and economic tensions.

CLS Global, a crypto market maker registered in the United Arab Emirates, has been hit with a $428,000 fine for wash trading of the FBI's bait token NexFundAI.

TL;DR WisdomTree expanded its platform to Arbitrum, Avalanche, Base, and Optimism, enabling investment in more tokenized assets. Investors can trade with US dollars or USDC and store their funds in third-party or self-custodial wallets. The offering includes 13 tokenized funds, covering money market, equity indexes, and fixed income with regulatory backing.

Bitcoin and most cryptocurrencies slumped on Thursday, with their total market capitalization plunging by over 5.7% to $2.6 trillion. Pi Network (PI) was one of the worst performers as it dropped to a record low of $0.

Ethena is facing a potential wave of sell pressure as 266 million ENA tokens are set to unlock in two phases, starting with the first $34 million unlock today. According to CryptoRank.io, Ethena (ENA) will unlock 94.

The stablecoin market has seen major shifts in March, with Ethena's USDtb breaking into the top 10 stablecoins by market cap, Tether losing 61% of market dominance, and EURC's market cap reaching a new all-time high.

Slovak Prime Minister Robert Fico is getting flak from opposition leaders for failing to avert U.S. car tariffs hanging over his country, a major automotive producer in Europe. The political attack came after President Donald Trump's decision to slap a 25% levy on all foreign-made cars next month.

Crypto whales bought Optimism (OP), Dogecoin (DOGE), and Worldcoin (WLD) in recent days. OP saw a rise in large holders despite being down 73% over the past year, while DOGE whale wallets climbed to a two-week high as meme coin sentiment shows signs of recovery.

Tether has launched its crosschain stablecoin USDT0 on Optimism's OP Superchain, expanding the accessibility of the digital dollar to Ethereum's layer-2 ecosystem. The launch, announced on March 27, marks a significant step in the adoption of stablecoin within decentralized finance (DeFi) and strengthens the growth of OP Superchain as one of the most dominant infrastructures in the sector.

Tether's crosschain US-dollar stablecoin, USDT0, has been deployed to Optimism's Superchain, increasing access to the world's most widely used stable asset across Ethereum's layer-2 ecosystem.On March 27, Optimism announced that the dollar-pegged USDT0 is now live on the OP mainnet. The crosschain stablecoin's first deployment was on Ink, Kraken's DeFi-focused layer-2.

Crosschain US-dollar stablecoin USDT0 has been deployed to Optimism's Superchain, increasing access to the world's most widely used stable asset across Ethereum's layer-2 ecosystem.On March 27, Optimism announced that the dollar-pegged USDT0 is now live on the OP mainnet. The crosschain stablecoin's first deployment was on Ink, Kraken's DeFi-focused layer-2.

Ethena Labs added another $225 million worth of BlackRock's BUIDL tokens on Mar. 25, according to Arkham Intelligence. Following this mint, Ethena (ENA) now holds a total of $1.29 billion in BUIDL tokens.

ENA rebounded from the $0.34 support level, but still requires a break above $0.5.

The crypto market is always full of surprises, and Ethena (ENA) is now at the center of attention. The token has been moving up in price, but recent selloffs and upcoming token unlocks have created uncertainty about its future.

Cryptocurrencies saw significant gains in the past day as Bitcoin approached the vital $90K. Ethena (ENA) capitalized on the bullish sentiments to extend its weekly gains by around 10%. The impressive recovery made most ENA holders profitable, according to IntoTheBlock data.

Despite Ethena price extending weekly gains to over 7% this Tuesday, Donald Trump's World Liberty Financial has rattled the crypto market with its ENA selloff spree. On-chain statistics indicated that Trump's World Liberty sold a whopping 184,000 tokens intraday, reverberating a bearish sentiment among crypto traders and investors globally.

The crypto market has made a strong start to the week, with cryptocurrencies registering substantial increases. As a result, the crypto market cap has jumped almost 3% and currently sits at $2.83 trillion.

Ethena Labs founder Guy Young has claimed that the synthetic dollar issuer is responsible for 95% of the recent growth in BlackRock tokenized US Treasury fund BUIDL. Young disclosed this on X while responding to the news that Fidelity wants to issue its own tokenized fund on Ethereum.

KuCoin has introduced new USDC trading pairs for Stellar (XLM), Toncoin (TON), and Ethena (ENA). Following the announcement, the prices of all three tokens saw modest gains as traders responded to the development.

Crypto prices held steady on Monday morning as investors cheered the new reporting on Donald Trump's tariffs. The reciprocal tariffs expected on April 2 will not include industrial sectors like automobile and microchips. As a result, Bitcoin jumped above $86,000, while Ethereum moved above $2,000.

ENA faces challenges, but could rally if it breaks resistance levels around $0.47.

Germany's financial regulator BaFin has imposed a ban on public sales of the USDe token from Ethena GmbH.

Ethena price remains concerningly eyed by crypto market participants against the backdrop of a severe bearish trajectory. ENA erased nearly 4% in the past 24 hours, in sync with a renowned market maker dumping over $10 million worth of tokens.

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.

The German regulator stepped in to squash offerings of Ethena's USDe stablecoin, citing "serious deficiencies in the approval procedure."

Germany's Federal Financial Supervisory Authority (BaFin) has rejected Ethena Labs' application to issue asset-referenced tokens under the European Union's Markets in Crypto-Assets Regulation (MiCAR). The regulator also raised concerns that the sUSDe may constitute an unlicensed security offering.

The halt was due to BaFin identifying "serious deficiencies in Ethena GmbH 's USDe token authorization" and instructed Ethena GmbH to freeze its asset reserve.

TL;DR BaFin has prohibited the public sales of Ethena GmbH's USDe token, claiming it violates the European Union's MiCAR regulations and markets unregistered securities. The protocol has been ordered to freeze the reserve assets and shut down its website, but secondary sales of USDe will not be affected.

German financial regulators have rejected Ethena Labs' MiCA application. The regulator has ordered Ethena to halt EU operations, freeze its asset reserves, and prohibit any new services.

The German financial regulatory authority, BaFin, has ordered the suspension of all public sales of the USDe token issued by Ethena GmbH. BaFin's decision stems from concerns that the token violates European Union regulations and potentially constitutes unregistered securities.

The possible violations related to USDe and sUSDe

Ethena's ENA token is down by 6.5% in the past 24 hours.

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.

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.

According to the decentralized total value locked (TVL) aggregator DefiLlama, the total Real World Tokenization (RWA) market has reached $10.2 billion in assets locked. Among the best-performing platforms are Maker's RWA, BlackRock BUIDL, Ethena USDtb, and Ondo Finance, which have clocked a total TVL of over $4 billion.