Ethena has extended the temporary suspension of its OFT cross-chain bridge, saying a clear root cause analysis for the rsETH event is still unavailable. The decision suggests the protocol is keeping protective measures in place until the underlying issue is better understood.
Bridge remains paused pending clearer findings
According to Ethena’s latest update, the main reason for continuing the pause is the absence of a definitive explanation for what caused the rsETH-related incident. Without that clarity, resuming cross-chain operations could introduce avoidable risk, making the extension a precautionary step rather than a timetable-driven delay.
New proof of reserves released
Alongside the announcement, Ethena published its latest proof of reserves, which it said was verified by Chainlink, Chaos Labs, LlamaRisk, and Harris & Trotter. Based on that update, USDe’s collateralization ratio remains above 100%, indicating that the protocol’s backing still exceeds outstanding exposure.
The reserve disclosure appears aimed at addressing market concerns around transparency and solvency while bridge functionality stays offline. In the absence of a reopening date, reserve verification becomes one of the most important signals for users monitoring protocol health.
More updates promised
Ethena said it will continue to provide updates to stakeholders as the situation develops. For now, the company has not shared a timeline for restoring the OFT bridge, and its messaging indicates that any restart will likely depend on a clearer and verifiable understanding of the rsETH event.
Overall, the latest move shows a dual-track response: maintain restrictions until risks are better assessed, while using independently checked reserve data to reassure the market that USDe remains fully backed above the 100% threshold.