Can Ethena Backing USDe With Bitcoin Crash Market Like Terra-LUNA?
Experts, including CryptoQuant's #Ceo , warn about Ethena's plan to back its USDe synthetic dollar with Bitcoin, fearing it could lead to a market crash akin to the Terra-$LUNA crisis. They highlight concerns about maintaining stability, particularly in bear markets, and question the viability of Ethena's strategies. Ethena #labs aims to scale USDe using Bitcoin, but critics caution against its untested nature and potential negative market impact. The controversy has led to a 9% drop in Ethena's price.
