USDe Depeg on Binance Appears Linked to Internal Oracle Data, Ethena Founder Says
The post USDe Depeg on Binance Appears Linked to Internal Oracle Data, Ethena Founder Says appeared on BitcoinEthereumNews.com.
USDe depeg explained: USDe depeg on Binance stemmed from an exchange oracle issue, not Ethena’s collateral—read how it happened and what traders should watch next. COINOTAG recommends • Exchange signup 📈 Clear interface, precise orders Sharp entries & exits with actionable alerts. 👉 Create free account → COINOTAG recommends • Exchange signup 🧠 Smarter tools. Better decisions. Depth analytics and risk features in one view. 👉 Sign up → COINOTAG recommends • Exchange signup 🎯 Take control of entries & exits Set alerts, define stops, execute consistently. 👉 Open account → COINOTAG recommends • Exchange signup 🛠️ From idea to execution Turn setups into plans with practical order types. 👉 Join now → COINOTAG recommends • Exchange signup 📋 Trade your plan Watchlists and routing that support focus. 👉 Get started → COINOTAG recommends • Exchange signup 📊 Precision without the noise Data‑first workflows for active traders. 👉 Sign up → Ethena founder Guy Young said the USDe depegging event on Binance that sent the token to $0.65 was an isolated issue not tied to fundamentals. Ethena’s founder, Guy Young, said the USDe synthetic dollar briefly depegged on Binance due to an internal oracle issue, not because of Ethena’s protocol or the underlying collateral. He emphasized that global minting and redeeming continued to function correctly during the flash crash. USDe minting and redeeming worked “perfectly” during Friday’s event, Young said. He reported approximately $2 billion in USDe redeemed across exchanges including Curve, Fluid, and Uniswap within 24 hours, with price deviations generally limited to ~30 basis points on venues referencing deepest liquidity. The price of USDe dropped from roughly $1 to $0.65 on Binance because the exchange used oracle data derived from its own orderbook, which had thinner liquidity at the time. Guy Young described the distortion as isolated to…
