$ENA is climbing — but the bigger story is what’s happening behind USDe
Ethena is expanding USDe’s backing into tokenized U.S. stocks through Binance bStocks, while using equity perpetuals to hedge the exposure
#Binance ’s equity perpetuals have already surpassed $2.9B in open interest, giving Ethena access to a growing market
But this expansion also adds new counterparty risk
The real question is whether Ethena can scale USDe into equities without changing its risk profile
#ENA #Ethena #RWA
Ethena is expanding USDe’s backing into tokenized U.S. stocks through Binance bStocks, while using equity perpetuals to hedge the exposure
#Binance ’s equity perpetuals have already surpassed $2.9B in open interest, giving Ethena access to a growing market
But this expansion also adds new counterparty risk
The real question is whether Ethena can scale USDe into equities without changing its risk profile
#ENA #Ethena #RWA
