[Bitwise CEO explains why he is curious about Ethena]
Bitwise President Teddy Fusaro recently expressed interest in the Ethena (USDe) stablecoin, saying it may be the fastest-growing U.S. dollar-denominated asset in the history of cryptocurrencies. Fusaro believes USDe will operate similarly to an ETF, where a protocol receives funds, issues USDe tokens, and then invests those funds into a designated portfolio. Ethena’s portfolio includes Bitcoin (BTC), Ethereum (ETH), Ethereum’s liquid equity tokens, and Tether USDT, and generates income for USDe holders through equity ETH and futures interest on these assets.
Compared with traditional stablecoins such as USDT and USDC, USDe provides a new model for distributing income to stablecoin holders, which is a major attraction for users who want to obtain additional income by holding stablecoins. . However, Fusaro also reminded that USDe, like any investment, has risks, including counterparty risk, exchange hacking risk, etc.
Fusaro is open to the future of USDe, saying its rapid growth and support are impressive. Currently, USDe has a market capitalization of US$23.6 billion, making it the fourth most circulated stablecoin on the market.
