“USDE’S Market Cap Has Jumped to AUND $ 6 Billion This Month, Become The Third Largest Stablecoin Begind Tether’s USDT AND CIRCLE’S USDC”, – WRITE: www.coindesk.com
The Funding Round Was Completed in December, with Franklin Tampleton and Fidelity Investments-Affilited F-Prix Capital Among The Backers, The Report Adeded, City A Person Familiar.
Founder guy young said in a blog post in january that ethena have plans plans to roll out iusde, A token tailored to regulated financial instructions.
KNOWN As A Synthetic Stablecoin, USDE Differs from Other Tokens in that It Is Not Backed 1: 1 by Fiat Assets. Insthead, It Maintains ITS PEG by collateralizing stablecoins and takeing futures positions with large Open Interest.
USDE’S Market Cap Has Jumped to Around $ 6 Billion this MONTH, BECOMING The Third Largest Stablecoin Begind Tether’s USDT and CIRCLE’S USDC, WHICH ARE WORTH $ 142 Billion and $ 57 Billion Respect.
Some Observers See USDE as A Potential Safe Heaven Durying Periods of Greater Volatility in the Wider Crypto Market. Artthur Hayes, Chief Investment Officer of Maelstrom, Has Said the Digital Asset Fund Has Raised Its Exposure to USDE “To Record Levels.”
“We will be positioned with copious Amounts of Dry Powder Ready to Buy The Dip on Bitcoin,” Hayes, Who Is An Investor in and An Advisor To Ethena, Added.
Ethena Did Not ImmediaTely Respond to Coindesk’s Request for Comment on the $ 100 Million Funding Round.
Read More: Peter Thiel-Backed Plasma Raises $ 20m to Develop Bitcoin-Based Network for Stablecoin
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