Can Ethena Backing USDe With Bitcoin Crash Market Like Terra-LUNA?
CryptoQuant CEO joined other experts to warn about contagion risks of Ethena backing USDe with Bitcoin similar to Terra-LUNA crisis.
Ethena Labs announced to back its USDe synthetic dollar with Bitcoin and some crypto experts have raised red flags on the move as it may crash the crypto market. Among these experts, on-chain data platform CryptoQuant CEO said USDe backed by Bitcoin raises risks of a potential Terra LUNA-like crisis.
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