{"id":22186,"date":"2025-04-15T14:17:27","date_gmt":"2025-04-15T14:17:27","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22186"},"modified":"2025-04-15T14:17:27","modified_gmt":"2025-04-15T14:17:27","slug":"ethena-agrees-with-regulator-to-withdraw-from-german-market","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22186","title":{"rendered":"Ethena Agrees With Regulator to Withdraw From German Market"},"content":{"rendered":"<div>\n<p>Decentralized finance (DeFi) protocol Ethena has agreed to wind down its operations in Germany.<\/p>\n<p>The decision comes three weeks after BaFin, Germany&#8217;s finance regulator, identified &#8220;serious deficiencies&#8221; in Ethena&#8217;s USDe token and said that the company was offering securities in Germany without approval.<\/p>\n<p>&#8220;We have agreed with BaFin to wind down all activities of Ethena GMBH and will no longer be pursuing the MiCAR authorization in Germany,&#8221; Ethena said in a tweet.<\/p>\n<p>It added that all previous users will be onboarded to Ethena BVI, the protocol&#8217;s entity in the British Virgin Islands.<\/p>\n<p>Ethena is the yield-generating protocol with $4.9 billion in total value locked (TVL). The USDe token is dubbed a &#8220;synthetic dollar&#8221; and is backed by bitcoin (BTC), ether (ETH) and other cryptocurrencies.<\/p>\n<p>Ethena&#8217;s ENA token is down by 2.88% in the past 24 hours, underperforming against the wider market which is up 1.17%, according to <a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\">CoinMarketCap<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized finance (DeFi) protocol Ethena has agreed to wind down its operations in Germany. The decision comes three weeks after BaFin, Germany&#8217;s finance regulator, identified &#8220;serious deficiencies&#8221; in Ethena&#8217;s USDe token and said that the company was offering securities in Germany without approval. &#8220;We have agreed with BaFin to wind down all activities of Ethena [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22186","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22186"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22186\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}