Ethena (ENA) Will Run the ether.fi Dollar, USDe Sits at 4.8 Billion: The Level That Decides

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.ether.fi is building its own dollar on Ethena's whitelabel platform, with Ethena taking on reserves, issuance and redemption. ENA is down 11.6 percent over the week, and the promised buyback stays locked until USDe reaches $7.5 billion.ether.fi is getting its own dollar, and Ethena will build and run it. Both sides announced on October 6, 2026 that the ether.fi USD stablecoin will be issued on Ethena's whitelabel platform: ether.fi keeps the brand and the distribution, while Ethena takes on reserves, issuance, redemption and compliance. The news did nothing for the price this week. Ethena traded at $0.2156 on Friday, 11.6 percent below its level seven days earlier, according to CoinGecko as of 3pm Friday. The reason lies in token distribution and the wider market rather than in the business. On October 5 the Ethena Foundation released the final tranche of investor tokens in a single step, and on October 8 net outflows from the protocol reached $104 million. At the same time the ...