Ethena Labs announced on Wednesday that the German Federal Financial Supervisory Authority, BaFin, and Ethena GmbH, the company’s German arm, have agreed on a redemption plan for USDe stablecoin holders.
The regulator data-ct-non-breakable=”null” href=”https://t.co/vLzZkHKOJb” rel=”noopener nofollow” target=”_blank” title=”null”>said it had initiated a 42-day redemption process for stablecoin holders. BaFin said USDe holders will have until Aug. 6 to declare redemption claims directly against Ethena GmbH. The process will be supervised by a special representative appointed by BaFin.
After the deadline, Ethena GmbH will be deemed officially wound up within…

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