{"id":48672,"date":"2025-09-21T13:46:39","date_gmt":"2025-09-21T13:46:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=48672"},"modified":"2025-09-21T13:46:39","modified_gmt":"2025-09-21T13:46:39","slug":"czs-family-office-deepens-stake-in-ethena-labs-as-usde-stablecoin-supply-tops-13b","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=48672","title":{"rendered":"CZ&#8217;s Family Office Deepens Stake in Ethena Labs as USDe Stablecoin Supply Tops $13B"},"content":{"rendered":"<div>\n<p>YZi Labs, the family office founded by Binance co-founder Changpeng &#8220;CZ&#8221; Zhao and Yi He, which was <a href=\"https:\/\/www.coindesk.com\/business\/2025\/01\/29\/former-binance-labs-makes-first-investment-following-zhao-s-return-report\">rebranded from Binance Labs<\/a>, has expanded its position in Ethena Labs, the protocol behind USDe, which has become the third-largest U.S. dollar-denominated crypto asset with more than $13 billion in circulation.<\/p>\n<p>The investment comes as Ethena enters a new stage of growth, which includes extending its footprint on BNB Chain. This includes rolling out products designed to bridge crypto and traditional finance, such as USDtb, a fiat-backed stablecoin in development, and Converge, an institutional settlement layer being built with Securitize and partners connected to BlackRock.<\/p>\n<p>USDe, marketed as a &#8220;synthetic dollar,&#8221; uses bitcoin <a href=\"https:\/\/www.coindesk.com\/price\/bitcoin\">BTC<\/a>, ether (ETH) and Solana&#8217;s SOL (SOL)as backing assets, pairing them with an equal value of short perpetual futures positions on exchanges to maintain a $1 peg. <\/p>\n<p>Launched less than two years ago, the synthetic dollar crossed the $10 billion supply milestone faster than any other dollar-pegged crypto asset.<\/p>\n<p>\u201cSince our investment team first met Guy [Young] in late 2023, Ethena has become the category definer for yield-bearing synthetic dollars,\u201d said Dana Hou, investment partner at YZi Labs.<\/p>\n<p>For users, the developments mean more options for holding and using digital dollars across centralized exchanges and decentralized finance protocols. For institutions, products like Converge aim to create a familiar settlement layer for tokenized assets, potentially broadening adoption of on-chain financial infrastructure.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/08\/01\/ethena-s-usde-outpaces-blackrock-s-bitcoin-ether-etfs-with-usd3-1b-inflow-surge\">Ethena&#8217;s USDe Outpaces BlackRock\u2019s Bitcoin, Ether ETFs With $3.1B Inflow Surge<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>YZi Labs, the family office founded by Binance co-founder Changpeng &#8220;CZ&#8221; Zhao and Yi He, which was rebranded from Binance Labs, has expanded its position in Ethena Labs, the protocol behind USDe, which has become the third-largest U.S. dollar-denominated crypto asset with more than $13 billion in circulation. The investment comes as Ethena enters a [&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-48672","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\/48672","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=48672"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/48672\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}