Ethena Labs exits German market following agreement with BaFin

Synthetic stablecoin developer Ethena Labs is winding down its German operations less than a month after regulators identified “deficiencies” in its dollar-pegged USDe USDE USDE - $1.000 stablecoin, signaling heightened scrutiny around crypto assets in Europe's largest economy.Ethena Labs reached an agreement with Germany's Federal Financial Supervisory Authority, also known as BaFin, to cease all operations of its local subsidiary, Ethena GmbH, according to an April 15 announcement. Source: Ethena Labs As such, Ethena Labs “will no longer be pursuing MiCAR authorization in Germany,” the company said, referring to the Markets in Crypto-Assets Regulation.

Source: cointelegraph.com

Related symbols: ENAUSD

2025-04-15 16:39:03 GMT.

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Price & Market Data

Price: $1.000

Volume 24h: $187,778,227.38

Market Cap: $4,658,834,995.68

Description

USDe (USDE) is a cryptocurrency . USDe has a current supply of 4,665,366,360 with 0 in circulation. The last known price of USDe is 1.0107969 USD and is down -0.45 over the last 24 hours. It is currently trading on 27 active market(s) with $523,498.56 traded over the last 24 hours. More information can be found at https://arawtoken.vip.