Post #2866

Since Oct 11, USDe has lost nearly 30% of its market cap, now sitting around $10.7B after $4B exited in just 14 days. All this started with Binance’s internal oracle glitch that briefly showed USDe at $0.65, even though Ethena’s protocol and collateral stayed intact. That short-lived depeg was enough to shake user confidence and the outflows haven’t stopped since. 👀