On October 11th, Ethena Labs officially released its Proof of Reserves in response to market concerns. The company stated that USDe's Proof of Reserves is typically provided weekly by independent third-party attestors, including Chaos Labs, Chainlink, Llama Risk, and Harris & Trotter. At the community's request, Ethena provided a Proof of Reserves with an unconventional cadence based on market events over the past 24 hours. The proof is available at the official link. These independent third parties have confirmed that USDe remains overcollateralized by approximately $66 million, ensuring Ethena Labs provides maximum transparency.
This morning, Ethena Labs founder Guy Young responded to online rumors that "Ethena is urgently raising funds to avoid a replica of the LUNA incident," saying that this is completely false.
