
$480B Janus Henderson Bets on Ethena's ENA and USDe
Janus Henderson bought ENA and may route USDe into treasury cash and exchange-traded products, giving Ethena a major TradFi bridge.
Jun 14, 20265 min read0 reactions0 comments
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Janus Henderson bought ENA and may route USDe into treasury cash and exchange-traded products, giving Ethena a major TradFi bridge.

How Ethena's USDe and sUSDe work, how they arrived on TON via LayerZero OFT, what the delta-neutral model is, and which risks the holder takes on.
Ethena's USDe has captured DeFi attention with a stunning 12,800% weekly surge on Solana, reaching $460 million in supply as liquidity flows accelerate across blockchain networks.
Ethena's USDe supply on Solana jumped over $450M in four days, raising concerns about network concentration and collateral strategy risks in decentralized finance.