TERRA-FI-ING? If it seems too good to be true, it sometimes is. But hope springs eternal that the crypto project Ethena’s new USDe token might prove sustainable despite yields that typically might signify high risk. Described as a “synthetic dollar” rather than a stablecoin, USDe is backed by Ethereum liquid staking tokens such as Lido’s stETH, but paired with short ETH perpetual futures positions on derivatives exchanges. As of Monday, the annualized yield was calculated at 24%, and according to DeFiLlama, the project has already pulled in nearly $500 million of deposits. There’s an “active discourse among the…
Stand With Crypto Sets Up Election War Chest, Backs Candidates Seeking Open Seats
The fast-growing organization of cryptocurrency supporters, Stand With Crypto, is getting into campaign financing with the opening of its own political action committee (PAC) that will make direct donations to...