Transcript Ep.629: Ethena’s USDe Grew to $2 Billion in 7 Weeks. Is It Safe?
Ethena’s synthetic dollar, USDe, hit a $2 billion market cap in just seven weeks, raising eyebrows. Ethena Labs founder Guy Young explores the risks of reinventing the digital dollar.
Guy Young:
It really is like a very weak surface level argument to compare what Ethena is doing to Luna, like really the core difference here, you just got to think about what is actually backing the stable assets. Really what I point to here as the core difference between a Luna and an Ethena is that the backing is real collateral that's sitting behind …
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