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Ethena Labs reaches agreement with German regulatory agency on USDe stablecoin redemption plan

Summary: In breaking news, Ethena Labs announced on Wednesday that the German Federal Financial Supervisory Authority BaFin has reached an agreement with its German subsidiary Ethena GmbH on a redemption plan for USDe stablecoin holders, initiating a 42-day redemption process for stablecoin holders. BaFin stated that USDe holders must submit redemption requests directly to Ethena GmbH ...

In breaking news, Ethena Labs announced on Wednesday that the German Federal Financial Supervisory Authority BaFin has reached an agreement with its German subsidiary Ethena GmbH on a redemption plan for USDe stablecoin holders, initiating a 42-day redemption process for stablecoin holders. BaFin stated that USDe holders must submit redemption requests directly to Ethena GmbH by August 6th. The process will be overseen by a special representative appointed by BaFin.

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