ChainCatcher news, according to an official statement from Ethena, the German Federal Financial Supervisory Authority (BaFin) has notified its Frankfurt-based entity Ethena GmbH that its MiCAR (Markets in Crypto-Assets Regulation) compliance application will not be approved. However, Ethena emphasizes that this decision will not affect the current listing status of USDe on exchanges, nor the minting and redemption services provided through its British Virgin Islands entity, Ethena (BVI) Limited.Ethena stated in the announcement that USDe remains fully asset-backed, with no assets being "frozen," and all assets are still available for redemption. The company will revise the relevant terms of service in the coming week to reflect the current changes. This incident will not affect the normal usage process for most users.Previous news, the Federal Financial Supervisory Authority of Germany announced that it found serious deficiencies in Ethena GmbH's approval process for the USDe token and ordered immediate enforcement measures, prohibiting Ethena GmbH from continuing to offer its USDe token to the public and instructing the company to have custodians freeze the corresponding asset reserves.

ChainCatcher news, the Federal Financial Supervisory Authority of Germany announced that it has discovered serious deficiencies in the approval process of Ethena GmbH for the USDe token, and ordered immediate enforcement measures to prohibit Ethena GmbH from continuing to offer its USDe token to the public, instructing the company to have custodians freeze the corresponding asset reserves.

ChainCatcher news, encryption analyst Ericonomic posted on social media that, based on on-chain information, Ethena has purchased a token ticker named "USDe" on Hyperliquid, and may integrate its stablecoin USDe into the Hyperliquid network. Analysis shows that the wallet purchasing USDe, "0x4758...d605," has funds traceable to the Ethena deployer (EOA), further validating the connection to the Ethena team.In addition, Ethena recently sent funds to Hyperliquid and set up 4 to 8 multi-signature wallets, indicating that it may be preparing for deployment. A related proposal was submitted to the Ethena governance forum last October, but the official team has not disclosed any progress until now. Ethena may be waiting for the launch of interoperability features between HyperEVM and HyperCore before formally deploying USDe.

According to ChainCatcher news, Ethena Labs, in collaboration with Securitize, will launch an EVM blockchain called Converge. In addition to providing access to standard DeFi applications aimed at retail investors, Converge will also offer a suite of applications and products specifically developed for institutional investors in partnership with others, helping institutional capital access the innovations and capital efficiency of DeFi in a compliant manner.Ethena will focus its institutional products on Converge and seek to migrate its existing DeFi ecosystem, which currently holds nearly $6 billion in assets. Securitize, which has created nearly $2 billion in RWA across multiple blockchains, will seek to issue existing and future tokenized assets on Converge and continue to facilitate the interoperability of its numerous protocol integrations.Additionally, ENA will serve as a stakable asset on Converge, with USDe and USDtb both acting as the network's gas tokens. Converge is expected to launch in the second quarter of 2025.

ChainCatcher news, Initia disclosed on social media that Ethena announced a strategic partnership with the blockchain network Initia, and its stablecoin USDe will be integrated into the Initia ecosystem.This cooperation includes three main aspects: first, an incentivized native liquidity pair of INIT-sUSDe will be established, providing Ethena rewards, INIT staking rewards, and exchange fees for liquidity positions; second, Ethena will provide rewards for applications in the Initia ecosystem that use its assets as core components, including full-stack applications like Cabal, Echelon, and Rave; third, Ethena will invest in the Initia ecosystem, starting with Echelon.

ChainCatcher news, according to Defillama data, Ethena's revenue in the past 24 hours has risen to 3.28 million USD, surpassing a number of protocols and public chains such as PancakeSwap, Jupiter, Meteora, and Tron, temporarily ranking third on the crypto revenue leaderboard.Tether and Circle rank first and second with 18.31 million USD and 6.12 million USD in 24-hour revenue, respectively.

ChainCatcher news, according to @ai_9684xtpa's monitoring, since the Bybit theft incident, the derivative hedging position of Ethena USDe on Bybit has decreased from 21% to 14%, with the share of ETH hedging positions dropping by 65%, the most significant decline.In the past 24 hours, Ethena associated addresses have withdrawn 22.64 million USDe from Bybit.

ChainCatcher news, according to Spot On Chain monitoring, two wallets associated with Ethena Labs deposited 29.87 million ENA (11.52 million USD) to Binance in the past hour at a price of approximately 0.386 USD.It is worth noting that both wallets received ENA from Ethena Labs' multi-signature wallet on July 20, 2024, when the price was 0.487 USD. Currently, one of the wallets still holds 53.6 million ENA (worth 20.2 million USD).

ChainCatcher news, according to Dune data, the Ethena stablecoin USDe experienced its largest single-day redemption ever on March 1, totaling $268 million, which reduced the circulating supply of USDe by approximately 4.7%.Data shows that this redemption activity was primarily driven by two large holders: address 0x59...705d redeemed about 180 million USDe, while Sky redeemed about 70 million USDe.

ChainCatcher news, Ethena Labs has launched a new Pendle pool eUSDe and USDe. The eUSDe (launched in collaboration with Ethereal) pool will expire on May 29, offering 50 times Ethena rewards and Ethereal points; the USDe pool (launched in collaboration with Pendle) will expire on July 31, with a maximum Ethena reward ratio of 60 times. Interaction with Ethena after the S3 expiration will qualify for S4 rewards, and more details about S4 will be announced next month.

ChainCatcher message, according to official news, MEXC Ventures made a strategic investment of $16 million in Ethena.In addition, MEXC invested $20 million to promote the development of the USDe stablecoin, while launching a $1 million reward program.

ChainCatcher news, Ethena officially announces its expansion to the MoveVM ecosystem, starting with collaborations with Apto s and the Movement ecosystem project Echelon. From today, s ENA holders (ENA stakers) will begin to automatically accumulate Echelon reward points, and in the future, they will share a 5% airdrop of Echelon tokens.

ChainCatcher news, according to the official announcement, Bithumb will launch the Ethena (ENA) KRW trading pair, with trading expected to start on February 25, 2025 (Tuesday) at 06:00 PM local time.

ChainCatcher news, according to Bloomberg, sources say that Ethena completed a $100 million financing round last December. This round of financing was participated in by institutions such as Franklin Templeton and Fidelity Investments' venture capital firm F-Prime Capital.It is reported that the project plans to use this round of financing to launch a new stablecoin product aimed at traditional financial institutions.According to the Web3 asset data platform RootData, Ethena is building a derivatives infrastructure that allows Ethereum to transform into a global internet bond through Delta neutral positions on stETH, thereby creating the first crypto-native, yield-bearing stablecoin: USDE.

ChainCatcher message, Ethena Labs posted updates related to the Bybit security incident on X:All spot assets supporting USDe are held in an off-chain custody solution, including those held by ByBit through Copper Clearloop. No exchange, including Bybit, has spot value.The total unrealized PNL (profit and loss) related to Bybit hedge positions is less than $30 million, which is less than half of the reserves.Currently, USDe is still over-collateralized.All USDe redemptions are proceeding normally, and the liquid stablecoin value supported by USDe is $2 billion, which can be redeemed at any time if users need.At the same time, Ethena Labs stated that they stand with Bybit and are ready to provide assistance.

ChainCatcher message, Ethena Labs founder @leptokurtic_ posted on platform X: "Ethena handled the largest single-day redemption and closed all unrealized risk exposure at the first moment of the news outbreak. In any case, at its peak, the unrealized risk exposure was always just a small part of the USDe excess reserves.Although Bybit, as the world's second-largest derivatives exchange, represents over 20% of the hedging exposure, USDe has never experienced an undervalued deposit situation. Even if the unrealized risk exposure does not drop to zero within hours, this exposure could be completely lost, while USDe would still be over-collateralized. We hope this incident can validate some design decisions made to reduce user risk with the OES custodial solution. The simple design approach is to avoid costs and the increased engineering complexity of custodians in the off-chain hedging system, and Ethena Labs has not encountered any support losses or redemption request issues."

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."