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Ethena Issues Proof of Reserves in Response to Market Concerns: USDe Still Holds Approximately $66 Million in Excess Collateral

2025.10.11 20:40:24

On October 11th, Ethena Labs officially launched a Proof of Reserve to address market doubts. It was stated that "The USDe Proof of Reserve is typically provided weekly by a third-party independent auditing firm, such as Chaos Labs, Chainlink, Llama Risk, and Harris & Trotter. In response to community demands, Ethena has provided an unusual rhythm Proof of Reserve based on market events in the past 24 hours, which can be accessed via the official link. These independent third parties have all confirmed that USDe still has approximately $66 million in excess collateral, and Ethena Labs is ensuring maximum transparency." This morning, Guy Young, the founder of Ethena Labs, responded to the online rumor that "Ethena is urgently raising funds to prevent a Luna event from recurring" and stated that this is completely untrue.
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