Ondo USDY Jumps 66% As Ethena sUSDe Sheds $2B
Yield-bearing stablecoins shed $3.5B in Q2 2026 as Ethena’s sUSDe fell 52%. Ondo’s USDY jumped 66%, marking a rotation from synthetic to RWA yield.
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$5.9B USDe Pays 4% Yield, Skirts GENIUS Act Ban
Ethena’s USDe holds $5.9B and pays about 4% staked yield from a basis trade, sidestepping the GENIUS Act ban that stopped USDC issuers cold.
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$250M Ethena Allocation Lands On Solana Via Securitize CLO
Securitize listed its STAC AAA CLO fund on Solana as Ethena plans a $250M allocation. STAC stays KYC-gated; Ethena’s USDe and USDtb stay permissionless.
