$ENA Friends!! The second Custody Attestation report is out, and here's the skinny: 💻👇
🔘 As of May 24th, there's $2.673 billion worth of USDe floating around.
🔘 To make sure everything's legit, Copper, Ceffu, and Cobo all verified that they're holding a chunk of the USDe backing (they've got $1.3 billion+ each from Copper and Ceffu, and $5.5 million from Cobo).
🔘 Plus, there's an extra $15.4 million sitting in Ethena's mint/redeem contract and $42.3 million in the reserve fund, ready for any redemptions.
Basically, independent auditors checked and confirmed that everything lines up – the USDe supply is backed by real assets held by these custodians. Here's a quick breakdown (numbers are rounded for easier reading):
(1) USDe Supply: $2.7 billion
(2) Custodied Assets:
🌕Copper: $1.3 billion
🌕Ceffu: $1.3 billion
🌕Cobo: $5.5 million
(3) Mint/Redeem + Reserve Fund: $57.7 million
(4) Total Backing Assets: $2.7 billion (covers the USDe supply, with a little extra)
This is good news for transparency! It shows that Ethena's keeping things on the up and up with USDe. (but why you take so long before sharing??
