Ethena Labs' new stablecoin USDtb reaches $65.4 million in TVL on the first day

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ODAILY
12-17
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Odaily reported that Ethena Labs' new stablecoin USDtb had a TVL of $65.4 million on its first day. Ethena Labs announced on December 16 that "Ethena will be able to close the hedge positions of USDe and reallocate its supporting assets to USDtb to further reduce the associated risks." Delphi Labs co-founder José Maria Macedo predicted that USDtb will become the largest tokenized product within a month of its launch. Ethena's growth manager Seraphim Czecker said USDtb's scale could potentially expand to $100 billion. Yesterday, it was officially announced that Ethena Labs has launched a new stablecoin product USDtb, supported by BlackRock BUIDL. USDtb has the same features as existing fiat stablecoins like USDC or USDT, backed 1:1 by cash or cash equivalents.

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