Ethena: Bybit's hedging position-related PNL is just under 30 million dollars, and USDe spot assets are held outside of CEX
ChainCatcher news, Ethena Labs posted on social media, "We have been monitoring the current developments at Bybit and will continue to keep an eye on the latest updates. We remind everyone: all spot assets supporting USDe are held in custody solutions outside of the exchange, including Bybit's custody through Copper Clearloop, precisely to prepare for such situations.
No dollar of spot support funds is held at any exchange, including Bybit. Currently, the total unrealized profit and loss (PNL) related to hedging positions with Bybit is less than 30 million dollars, far below half of the reserve fund.
USDe is still fully over-collateralized. We will provide updates as we receive further information."
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