Ethena says USDe remains overcollateralized by more than $60 million, with reserves not held on centralized exchanges

Ethena said in a social media post that it has released its latest proof of reserves for USDe following recent market security incidents. According to the project, independent third parties including Chainlink and Llama Risk confirmed that USDe remains overcollateralized, with excess collateral of more than $60 million and a collateralization ratio above 101%. Ethena also said that none of the reserve funds backing USDe are directly held on Binance or any other centralized trading platform. The statement addressed where reserve assets are kept while reiterating the project’s current collateral position. The project added that proof of reserves for USDe is typically provided once a week by independent third-party institutions. The update was published through Ethena’s social media account and cited external verification from named risk and oracle-related entities.