Ethena Labs and German regulatory agency reach agreement on redemption plan for USDe stablecoin holders

Odaily Planet Daily News: Ethena Labs announced on Wednesday that the German Federal Financial Supervisory Authority BaFin has reached an agreement with the company's German subsidiary Ethena GmbH on a redemption plan for USDe stablecoin holders and has launched a 42 day stablecoin holder redemption process. The German Federal Financial Supervisory Authority (BaFin) has stated that USDe holders must submit a redemption request directly to Ethena GmbH before August 6th. This process will be supervised by a special representative appointed by BaFin. （Cointelegraph）