MEXC Ventures Invests $36 Million in Ethena and Its USDE Stablecoin

Odaily News MEXC Ventures invests $36 million in Ethena and its USDE stablecoin to promote the adoption of synthetic dollars in decentralized finance (DeFi). Unlike traditional stablecoins, USDE is a synthetic stablecoin that is not backed 1:1 by fiat assets, but maintains its value by pledging other stablecoins and holding futures positions. (Coindesk)