On February 22, Ethena Labs released news related to the Bybit security incident on X: All spot assets supporting USDe are held in OTC custody solutions, including ByBit via Copper Clearloop. There is no spot-backed value on any exchange, including Bybit. The total unrealized PNL (profits and losses) associated with Bybit's hedging position was less than $30 million and has now fallen to $10 million, less than half of the reserve fund. The current USDe is still over-collateralized. All USDe exchanges are carried out normally. At present, the liquid stablecoin supported by USDe is worth 2 billion US dollars. If users need it, it can be exchanged at any time. Meanwhile, Ethena Labs said it is with Bybit and stands ready to assist it.