Ethena Labs Reaches Agreement with German Regulators on Redemption Plan for USDe Holders

Odaily Planet Daily reported that Ethena Labs announced on Wednesday that the German Federal Financial Supervisory Authority (BaFin) has reached an agreement with the company’s German subsidiary, Ethena GmbH, regarding a redemption plan for USDe stablecoin holders, and has initiated a 42-day redemption process for stablecoin holders. BaFin stated that USDe holders must submit their redemption requests directly to Ethena GmbH by August 6, and the process will be overseen by a special representative appointed by BaFin.