{
  "version": 1,
  "event_id": "evt_3de1a44c83c50786",
  "url": "https://xiyu.news/events/evt_3de1a44c83c50786/",
  "json": "https://xiyu.news/api/events/evt_3de1a44c83c50786.json",
  "type": "other",
  "status": "monitoring",
  "category": "crypto",
  "title": {
    "zh": "Ethena 将 USDe 的抵押支持扩展至股票永续合约",
    "en": "Ethena Expands USDe Backing Into Equity Perpetuals - Yahoo Finance"
  },
  "current_state": {
    "zh": "据 Yahoo Finance 和 The Block 报道，Ethena 正将币安的 bStocks 与股票永续合约纳入其用于支撑 USDe 的基差交易策略。此举使这一合成美元的抵押资产范围从加密基差交易进一步扩大。\n\n这一调整改变了 USDe 的抵押品构成与风险特征——此前其支撑资产一直与加密基差交易挂钩。持有 USDe 的用户以及将其作为抵押品的 DeFi 协议将直接受到影响。\n\n币安 bStocks 是代币化股票，每一份都由托管于受监管机构的一股美国股票 1:1 支撑，可在币安现货市场 7×24 小时交易。股票永续合约则将加密永续合约的机制——资金费率、无到期日——应用于股票敞口。",
    "en": "Ethena is broadening the backing assets for its USDe synthetic dollar beyond crypto basis trades to include equity perpetuals, altering the collateral and risk composition of the stablecoin."
  },
  "first_seen_at": "2026-09-25T17:25:10.222449+00:00",
  "last_updated_at": "2026-09-25T17:25:10.222449+00:00",
  "last_material_change_at": "2026-09-25T17:25:10.222449+00:00",
  "confidence": 0.75,
  "updates_count": 1,
  "sources_count": 1,
  "entities": [
    "backing",
    "equity",
    "ethena",
    "expands",
    "into",
    "perpetuals",
    "usde",
    "yahoo"
  ],
  "identifiers": [],
  "topics": [
    "collateral-risk",
    "ethena",
    "perpetuals",
    "stablecoins",
    "usde"
  ],
  "updates": [
    {
      "update_id": "upd_444dce8e7d460e4d",
      "event_id": "evt_3de1a44c83c50786",
      "occurred_at": "2026-09-25T13:51:23Z",
      "published_at": "2026-09-25T13:51:23Z",
      "first_seen_at": "2026-09-25T17:25:10.222449Z",
      "time_precision": "published",
      "update_type": "initial",
      "material_change": true,
      "title_zh": "Ethena 将 USDe 的抵押支持扩展至股票永续合约",
      "title_en": "Ethena Expands USDe Backing Into Equity Perpetuals - Yahoo Finance",
      "what_changed_zh": "据 Yahoo Finance 和 The Block 报道，Ethena 正将币安的 bStocks 与股票永续合约纳入其用于支撑 USDe 的基差交易策略。此举使这一合成美元的抵押资产范围从加密基差交易进一步扩大。\n\n这一调整改变了 USDe 的抵押品构成与风险特征——此前其支撑资产一直与加密基差交易挂钩。持有 USDe 的用户以及将其作为抵押品的 DeFi 协议将直接受到影响。\n\n币安 bStocks 是代币化股票，每一份都由托管于受监管机构的一股美国股票 1:1 支撑，可在币安现货市场 7×24 小时交易。股票永续合约则将加密永续合约的机制——资金费率、无到期日——应用于股票敞口。",
      "what_changed_en": "Ethena is broadening the backing assets for its USDe synthetic dollar beyond crypto basis trades to include equity perpetuals, altering the collateral and risk composition of the stablecoin.",
      "current_state_zh": "据 Yahoo Finance 和 The Block 报道，Ethena 正将币安的 bStocks 与股票永续合约纳入其用于支撑 USDe 的基差交易策略。此举使这一合成美元的抵押资产范围从加密基差交易进一步扩大。\n\n这一调整改变了 USDe 的抵押品构成与风险特征——此前其支撑资产一直与加密基差交易挂钩。持有 USDe 的用户以及将其作为抵押品的 DeFi 协议将直接受到影响。\n\n币安 bStocks 是代币化股票，每一份都由托管于受监管机构的一股美国股票 1:1 支撑，可在币安现货市场 7×24 小时交易。股票永续合约则将加密永续合约的机制——资金费率、无到期日——应用于股票敞口。",
      "current_state_en": "Ethena is broadening the backing assets for its USDe synthetic dollar beyond crypto basis trades to include equity perpetuals, altering the collateral and risk composition of the stablecoin.",
      "detailed_summary_zh": "Ethena is broadening the backing assets for its USDe synthetic dollar beyond crypto basis trades to include equity perpetuals, altering the collateral and risk composition of the stablecoin.",
      "detailed_summary_en": "Ethena is broadening the backing assets for its USDe synthetic dollar beyond crypto basis trades to include equity perpetuals, altering the collateral and risk composition of the stablecoin.",
      "background_zh": "Ethena 于 2023 年底推出 USDe，定位为一种中性对冲的合成美元，通过永续合约资金费率获取收益，不依赖传统银行基础设施。其支撑资产此前集中于加密基差交易，这一结构也使 USDe 成为 DeFi 中应用最广泛的抵押资产之一。",
      "background_en": "Ethena launched USDe in late 2023 as a delta-neutral synthetic dollar that earns yield from perpetual futures funding rates without relying on traditional banking infrastructure. Its backing has been concentrated in crypto basis trades, a structure that has made USDe one of DeFi's most widely used collateral assets.",
      "community_discussion_zh": "",
      "community_discussion_en": "",
      "market_impact_zh": "USDe 是 DeFi 中被系统性使用的抵押资产，因此将部分支撑资产配置到代币化股票与股票永续合约，会使其依赖资金费率的收益来源和抵押稳定性与股票市场状况产生关联，进而影响集成或持有 USDe 的交易场所和协议。币安的 bStocks 与股票永续合约市场是这一敞口直接落地的场所。",
      "market_impact_en": "USDe is a systemically used DeFi collateral asset, so routing part of its backing through tokenized equities and equity perpetuals links its funding-rate-driven yield and collateral stability to equity market conditions, affecting venues and protocols that integrate or hold USDe. Binance's bStocks and equity perpetual markets are the immediate venues where that exposure would sit.",
      "importance_score": 7.0,
      "references": [
        {
          "url": "https://www.bitrue.com/blog/what-is-ethenas-usde-synthetic-dollar",
          "title": "What Is Ethena’s USDe Synthetic Dollar?"
        },
        {
          "url": "https://www.binance.bh/en/academy/articles/what-are-bstocks-a-guide-to-tokenized-stocks-on-binance",
          "title": "What Are bStocks? A Guide to Tokenized Stocks on Binance"
        },
        {
          "url": "https://bex.co/blog/2026/03/13/ethena-usde-systemic-defi-collateral-concentration-risk",
          "title": "Ethena's USDe Has Become DeFi's Most Systemic Collateral... | bex.co"
        }
      ],
      "confidence": 0.75,
      "story_ids": [
        "google_news:article:28b77ef70717ddca"
      ],
      "sources": [
        {
          "url": "https://news.google.com/rss/articles/CBMioAFBVV95cUxQLWNRT2R1dGdCTWZTZkpNNmtvajhrd3picGFVc1JDNUNRQzkxREx4am5lYkNmWFY4QmZaUi1Ha2FwOElURjE1Z0lkT1B5SUJGNHQxZllqM0ZnN0FiM1k2M3dBV0dvaEkzRVoyOXNxclhMYTZ5MWZvV3lWSTZJd1A3cU01S0hxdlA3cjJfNGhEVVUwczZpOTB6eGZFOXNKOHpk?oc=5",
          "label": "Yahoo Finance",
          "source_type": "google_news",
          "official": false
        }
      ]
    }
  ]
}