Algorithmic Ratings & Investment Analysis
©ARIA 2025
by aria-crypto.com
April 16, 2025 at 09:38
German Regulator Orders Ethena to Reverse USDe Token Issuance and Imposes €600K Fine
Ethena GmbH has faced significant repercussions from the German Federal Financial Supervisory Authority (BaFin) regarding its USDe token operations.
BaFin has mandated that Ethena wind down its token issuance due to serious operational deficiencies discovered during its authorization process.
The company attempted to enter the German market under the transitional provisions of the European Markets in Crypto Assets Regulation (MiCAR) but later withdrew its authorization application.
As a result, Ethena can no longer operate within the European Union and must execute a redemption plan for its USDe tokens.
In addition to reversing the token issuance, BaFin levied a coercive fine of €600,000 on Ethena.
BaFin has also imposed a ban on payments and sales to protect the company’s assets and ensure creditor obligations are met.
This situation highlights the increasing scrutiny and regulatory pressure faced by cryptocurrency projects in Europe.
Ethena's case underscores the importance of compliance with financial regulations in the evolving crypto landscape.
As authorities tighten their grip, firms in the sector may need to reassess their operations to avoid similar fates.
The events serve as a stark reminder of the regulatory challenges that can impact cryptocurrency firms operating globally, including those dealing with Bitcoin.
China has officially halted its purchases of U.S. liquefied natural gas (LNG), a decision that could significantly impact global energy markets. This move comes amid rising tensions between the United States an...
This week has brought significant developments in the crypto world, notably surrounding Chainlink and Grayscale's evolving strategies. The Pi Network experienced a surge in its native coin's value following a...
3 hours ago
As global interest in clearer cryptocurrency regulations continues, Canada and Russia have made notable strides this week alongside developments from the U.S. Securities and Exchange Commission (SEC). The SEC ...
4 hours ago
In a landmark case, a Brazilian court has sentenced three men involved in a massive Bitcoin Ponzi scheme to a total of 170 years in prison. The defendants, Joel Ferreira de Souza, Gesana Rayane da Silva, and V...
6 hours ago
A recent report by Binance Research highlights that the U.S. Treasury plans to issue over $31 trillion in bonds in 2025, marking a record high at around 109% of the country's GDP. This unprecedented bond issua...
7 hours ago
In a significant development, a Brazilian court has dealt a harsh blow to executives involved in one of the country's most notorious crypto Ponzi schemes. Joel Ferreira de Souza, deemed the architect of the Br...
Crypto exchange Kraken has announced the launch of FX perpetual futures, marking its foray into the forex market. These new products offer 24/7 trading on major forex pairs, starting with EUR/USD and GBP/USD. ...
Investors are closely watching the Federal Reserve's interest rate decisions, especially after Fitch Ratings forecasted cuts starting in the fourth quarter of 2025. In the U.S., Bitcoin has shown resilience am...
10 hours ago
Recent data from Google reveals a significant increase in search interest for Bitcoin and Ethereum, despite lackluster price movements in early 2025. Bitcoin searches surged 26% month-over-month, reaching an i...
11 hours ago
In a surprising move, Houthis have allegedly utilized around $900 million in cryptocurrency to evade U.S. sanctions. This incident highlights the increasingly sophisticated ways in which groups are leveraging ...
Stay informed and up-to-date on the market's latest news with ARIA's Institutional Terminal's News Aggregator.
Find your curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Get Institutional Access