How Binance’s USDe ‘depeg’ cost the exchange millions

During the chaos, Ethena’s “synthetic dollar” USDe briefly traded at just $0.65 on Binance. The exchange has reimbursed victims with $283M.

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This episode is 4 minutes long.

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This episode was published on October 15, 2025.

What is this episode about?

During the chaos, Ethena’s “synthetic dollar” USDe briefly traded at just $0.65 on Binance. The exchange has reimbursed victims with $283M.

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