Ethena Labs releases USDe backed assets report, confirming $3.408 billion in total assets

According to TechFlow, on July 26, Ethena Labs released the fourth proof report of USDe's backing assets in July, confirming that USDe's assets are stored in an institutional-grade custody solution to ensure transparency.

As of July 24, 2024, the supply of USDe is US$3.401 billion, of which: Copper's custodial assets are US$1.819 billion, Ceffu's custodial assets are US$1.554 billion, and Cobo's custodial assets are US$5.25 million.

In addition, Ethena’s minting/redemption contracts have $30.02 million available for redemption, the reserve fund is $45.45 million, and the total assets reach $3.408 billion, with a coverage ratio of 101.55%.