During Friday’s turbulent market sell-off, Ethena’s synthetic dollar, USDe, which maintains its 1:1 peg to the USD through cash-and-carry arbitrage, briefly dropped, hitting 65 cents on Binance.

However, this dramatic dislocation was confined to Binance as opposed to the global de-pegging of the USDe as social media chatter suggests.

STORY CONTINUES BELOW
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