We are pleased to share BaFin and Ethena GmbH have agreed to a redemption plan providing holders the option to redeem USDe if they so wish.

The plan was initiated via BaFin administrative order which concurrently revokes BaFin's previous March 21 2025 order.

BaFin has updated its March 21, 2025 post to this effect: https://t.co/2VMTwGimZT

Upon completion of the plan BaFin will have no outstanding issues related to Ethena GmbH's USDe-related operations, representing an amicable resolution on this matter.

BaFin has released a statement below confirming implementation and closure of the matter following the plan:

https://t.co/vLzZkHKOJb

More information on the redemption plan can be found here: