Ethena Adds Kraken, Anchorage, and Zodia as Custodians for $5B Stablecoin Holdings

TLDR: Ethena backing shifted from 80% perpetual futures early 2025 to 65% stablecoins currently. New custodians must meet 50-criteria framework with minimum 7.5/10 score and 99.9% uptime guarantee. Protocol’s custody structure prevented losses during February 2025 Bybit hack affecting $30M positions. October attestation revealed $5.2B in stablecoins held across various custody solutions and wallets.   [...]

The post Ethena Adds Kraken, Anchorage, and Zodia as Custodians for $5B Stablecoin Holdings appeared first on Blockonomi.