On February 22, Ethena Labs released news related to Bybit security incidents on X: All spot assets that support USDe are stored in off-site custody solutions, including ByBit via Copper Clearloop. No exchange, including Bybit, has spot support value. The unrealized PNL (profits and losses) associated with Bybit hedging positions totaled less than $30 million and has now dropped to $10 million, less than half of the reserve fund. Currently, USDe is still over-collateralized. All USDe exchanges are normal. Currently, the liquid stablecoins supported by USDe are worth US$2 billion. If users need them, they can be exchanged at any time. Meanwhile, Ethena Labs says it’s with Bybit and is ready to help.