Ethena Labs reveals zero unrealized PNL exposure to Bybit
Ethena Labs has provided an update confirming that her NLP exhibition not performed to the use of the exchange of pirated crypto is now zero.
The update follows a previous article in which the synthetic protocol based on Ethereum reassured users that its stablecoin USDE had a minimum exposure to the incident.
Previously, the ethhena (This one) The team said that exposure to NLP was less than $ 30 million.
“We are aware of the situation that is currently evolving with Bybit and continue to monitor developments. As a reminder: all punctual active ingredients supporting the USDE are held in scholarship solutions, including Bybit via Copper Clearloop for this precise reason, ”said Ethena Labs said In the wake of the $ 1.4 billion hack.
According to the last update, no funds supporting the USDE spot reserves took place on exchanges, including Bybit.
In the financial markets, the exposure not carried out by the NLP refers to the profit or the loss that an entity can undergo open positions. Also known as the floating PNL, it represents the potential gain or loss if all the open positions were closed immediately.
The Ethena team said that less than $ 30 million in NPP unrealized were linked to cover positions. Despite this, the USDE remained entirely guaranteed at the time. The team also noted that the exhibition would decrease more in the coming hours.
This amount would have dropped to $ 10 million, before finally reaching zero.
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