Odaily News @leptokurtic_, founder of Ethena Labs, posted on the X platform: "Ethena handled the largest single-day redemption and closed all unrealized risk exposure as soon as the news broke. In any case, at its peak, the unrealized risk exposure was always only a small part of the excess reserves of USDe. Although Bybit, as the world's second largest derivatives exchange, represents more than 20% of the risk-averse exposure, USDe has never underestimated the deposit. Even if the unrealized risk exposure does not drop to zero within the hour, this exposure may be completely lost, and USDe will still be overcollateralized. I hope this incident can verify some of the design decisions made to reduce the risks of users using the OES custody solution. The simple design route is to avoid costs and the engineering complexity added by custodians in the off-chain hedging system. Ethena Labs has not encountered any support losses or redemption request issues."