Ethena’s German Exit: A Comedy of Errors? 🤣
Alas, Ethena Labs will no longer be pursuing regulatory approval under the EU’s Markets in Crypto-Assets Regulation. A decision, no doubt, made with the sort of reluctance one reserves for attending a Wagner opera. The reason? A March enforcement action by Germany’s financial regulator, BaFin, which ordered the company to cease all public sales of USDe (USDe) due to MiCAR noncompliance. How dreadfully inconvenient! 😒