YZi Labs is the family office of Binance co-founder Zhao Changpeng (CZ) and He Yi, which has now increased its investment in Ethena Labs. Ethena Labs is the issuer of USDe. USDe is currently the third-largest dollar-valued crypto asset in the world, with a circulation exceeding $13 billion. This expansion coincides with Ethena's growth phase, including the expansion to the BNB chain and the development of new products, such as the fiat-backed stablecoin USDtb and Converge (an institutional settlement layer built in partnership with Securitize and BlackRock). USDe is a synthetic dollar supported by BTC, ETH, and SOL, paired with perpetual short contracts, with a supply reaching $10 billion faster than any other dollar-pegged asset.
