Ethena’s USDe, which uses BTC and ETH as backing assets, combining them with equal-value short perpetual futures positions to generate yield, and DeFi platform Pendle’s BTC staking, which, as of last week, offering a floating yield of 45% stands to benefit as well, Hayes explained.
Fed Rate Cut Could Crash Crypto Markets, Ether Bull Run Looms, Says Bitmex’s Hayes
