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Ethena starts bringing US stock assets into the world of USDe
Ethena has recently further expanded USDe’s backing strategy by incorporating bStocks and perpetual contracts on stocks.
It can actually be understood simply as:
What Crypto used to love playing with was:
Token + leverage + perpetual contracts.
Now:
People are starting to connect this model with traditional stock assets.
As a result, you are seeing an increasingly blurred boundary:
Stocks are no longer as “traditional finance” as before,
and Crypto is no longer as “pure Crypto” as before.
The two sides are meeting in the middle.
The

What’s going on today?
First thing in the morning
Crypto is in the red
A-shares are down (shown in green)
Anyway, everything fell…

BTC is showing a very strange phenomenon right now:
US Treasury yields are so high,
yet it still hasn't collapsed…

I noticed
so many of my Blue Blues’ accounts have “(Thin-Muscle Version)” in them.
Are there really this many Thin-Muscle devotees now?

Here's a fact:
The real big customers of stablecoins in the future
may not be today's crypto players,
but tomorrow's AI agents.

BTC’s biggest enemy may no longer be the bears.
Crypto’s risk premium is now competing head-on with U.S. Treasury yields.

Let's have fun
Actually, everything in life is fake…

A truth:
Often, the person who solves the problem
is the person who created it!

Yesterday, ETFs bought nearly $1 billion in a single day,
yet BTC fell today…
This is the most interesting part of the market right now🤣