Ethena Labs： We have noticed the Bybit incident and currently, all spot assets supporting USDe are being held in custody off exchange

Odaily Planet Daily News: Ethena Labs stated in an article on X platform that it has noticed the Bybit incident, and all USDe supported spot assets are held through over-the-counter custody solutions. There are no reserve funds for spot value stored on any exchange (including Bybit). At present, Bybit's unrealized gains and losses on hedge positions are less than $30 million, which is less than half of the reserve fund. USDe has sufficient collateral balance and will provide more information promptly upon receiving updates.