Ethena Labs: We have noticed the Bybit incident. Currently, all spot assets supporting USDe are managed over the counter.

Odaily News Ethena Labs posted on the X platform that it has noticed the Bybit incident. All spot assets supporting USDe are held through over-the-counter custody solutions, and no spot value reserve funds are stored in any exchange (including Bybit). At present, the total unrealized gains and losses of Bybit's hedging positions are less than 30 million US dollars, less than half of the reserve fund. USDe has sufficient collateral balance and will provide more information in a timely manner after receiving updates.