USDe depegs to $0.65; founder calls it isolated

Ethena founder Guy Young said the USDe depegging on Binance that pushed the token to $0.65 \"was an isolated issue not tied to fundamentals.\" Public explanations have centered on a possible coordinated attack and oracle failures affecting price feeds on the exchange.

Key facts
- USDe dropped to $0.65 during a depegging event on Binance.
- Ethena founder Guy Young described the incident as \"an isolated issue not tied to fundamentals.\"
- Public analysis has focused on a potential coordinated attack as a cause.
- Oracle or price-feed problems are cited as a contributing technical factor.
- The event occurred on the Binance trading platform, triggering market attention.

Background information
USDe, a token designed to maintain a stable value, experienced a sudden deviation from its intended peg on Binance. Market participants and the project team quickly pointed to external technical vectors—coordination among actors and oracle inaccuracies—rather than underlying asset or protocol failure.

Impact: The episode may erode short-term confidence in pegged tokens and highlights reliance on secure oracle infrastructure and exchange safeguards; it could prompt investigations, tighter oracle monitoring, and temporary liquidity or trading controls.