Ethena Labs and German regulators agree on redemption plan for USDe stablecoin holders

Odaily News Ethena Labs announced on Wednesday that the German Federal Financial Supervisory Authority BaFin and the company's German branch Ethena GmbH have reached an agreement on the redemption plan for USDe stablecoin holders and launched a 42-day redemption process for stablecoin holders. The German Federal Financial Supervisory Authority (BaFin) stated that USDe holders must submit redemption applications directly to Ethena GmbH before August 6. The process will be supervised by a special representative appointed by BaFin. (Cointelegraph)