Ethena has launched its new stablecoin, USDtb, backed primarily by BlackRock's BUIDL fund. The stablecoin will hold over 90% of its reserves in BUIDL, a tokenized money market fund that invests in U.S. government debt, cash, and repos, with the remaining reserves held in stablecoins and tokenized Treasury products.
Agent Smith 404 : There are no coincidences. This was planned.