Ethena Labs Initiates Redemption Process for USDe Stablecoin Holders

According to PANews, Ethena Labs has reached an agreement with Germany's Federal Financial Supervisory Authority (BaFin) to commence a 42-day redemption process for holders of the USDe stablecoin. BaFin has stated that USDe holders must submit their redemption requests to Ethena GmbH by August 6, after which any claims will be handled by its offshore affiliate, Ethena (BVI) Ltd. This agreement concludes a four-month regulatory dispute between the parties. Ethena GmbH will undergo formal liquidation within Germany, the European Union, and the European Economic Area source: https://www.binance.com/en/square/post/26095830944193?utm_source=BinanceNewsRSS