Ethena: USDe remains overcollateralized by over $60 million, and the backing assets are not directly held on CEXs such as Binance.

PANews October 30 news: Ethena posted on X platform that USDe proof of reserves is typically provided weekly by independent attestation providers such as Chainlink and Llama Risk. In light of events over the past few hours, Ethena has provided proof of reserves. The aforementioned independent third parties have confirmed that USDe remains overcollateralized, with a surplus exceeding $60 million and a collateralization ratio above 101.0%. Ethena stated that the assets backing USDe are not held directly on Binance or any centralized exchange, and all funds are safe.