USDE and FDUSD Experience Summary Depegs Amid Saturday’s Crypto Market Reorganization

Ethena’s USDE, the cryptocurrency economy’s fifth-largest stablecoin by market capitalization, temporarily decoupled from its peg on Saturday amid falling markets. The tokens, designed to reflect the value of the U.S. dollar, fell to $0.965 each, according to the data. Likewise, the market saw the fourth largest stablecoin, FDUSD, fall to a low of $0.9557 per coin. (…)