Ethena’s Yield Machine Sees $1B Outflows as Crypto Market Cools – But There’s Good News

The protocol faced a challenging environment as yields from arbitraging bitcoin and ether funding rates tumbled to near-zero. Even so, its USDe token held steady to its $1 peg.

Full story: https://www.coindesk.com/markets/2024/09/10/ethenas-yield-machine-sees-1b-outflows-as-crypto-market-cools-but-theres-good-news/