Ethena的USDe脱锚，感觉有点可怕啊。要知道今天USDT 高的时候都到了1.01以上。
这些基于交易所内套利包装出来的理财产品和稳定币，感觉都有一定风险。
尽管都用了托管余额映射到交易所，资产不会丢失，但在极端市场行情下，有可能出现巨额亏损。

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Ethena's USDe depegging is a bit scary. Consider that USDT reached over 1.01 at its peak today.
These wealth management products and stablecoins, packaged based on intra-exchange arbitrage, seem to carry some risk.
Although custodial balances are mapped to exchanges, ensuring asset loss, significant losses are possible in extreme market conditions.

Author: Yuanshan Insights
Data Source: Farside Investors, SoSoValue, Fed H.4.1 Report, CryptoQuant

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