{"id":33667,"date":"2024-12-17T15:00:28","date_gmt":"2024-12-17T12:00:28","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=33667"},"modified":"2024-12-17T13:11:55","modified_gmt":"2024-12-17T10:11:55","slug":"ethena-labs-launches-usdtb-stablecoin-with-strong-debut","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ethena-labs-launches-usdtb-stablecoin-with-strong-debut\/","title":{"rendered":"Ethena Labs Launches USDtb Stablecoin with Strong Debut"},"content":{"rendered":"<p>On <strong>December 16<\/strong>, <strong>Ethena Labs<\/strong> launched its new stablecoin, <strong>USDtb<\/strong>, amassing a total of <strong>$65.4 million in total value locked (TVL)<\/strong> within its first day. Supported by the <strong>BlackRock BUIDL Fund<\/strong>, USDtb is backed <strong>1:1 by cash or cash-equivalent assets<\/strong>, designed to protect investors during volatile market conditions.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ethena-labs-launches-usdtb-stablecoin-with-strong-debut\/#Backing_Structure_and_Liquidity\" title=\"Backing Structure and Liquidity\">Backing Structure and Liquidity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ethena-labs-launches-usdtb-stablecoin-with-strong-debut\/#Stablecoin_Market_Outlook\" title=\"Stablecoin Market Outlook\">Stablecoin Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Backing_Structure_and_Liquidity\"><\/span>Backing Structure and Liquidity<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2024-12\/0193d253-bdca-79e1-87d9-215ca2892286\" alt=\"usdtb\" width=\"910\" height=\"673\" \/><\/p>\n<p>USDtb derives <strong>90% of its reserves<\/strong> from <strong>BlackRock&#8217;s USD Institutional Digital Liquidity Fund<\/strong>, while the remaining <strong>10%<\/strong> consists of stablecoins like <strong>USDC<\/strong>. This reserve model ensures liquidity, especially during <strong>weekends<\/strong> or periods when <strong>U.S. Treasury bond markets<\/strong> are unavailable.<\/p>\n<p><strong>Ethena&#8217;s Head of Growth, Seraphim Czecker<\/strong>, stated that USDtb has the potential to scale to <strong>$100 billion<\/strong>, emphasizing its ability to create a <strong>yield floor<\/strong> tied to <strong>U.S. Treasury Bill rates<\/strong> in bearish market conditions.<\/p>\n<p>Jos\u00e9 Maria Macedo, co-founder of <strong>Delphi Labs<\/strong>, predicted that USDtb would become <strong>the largest tokenized treasury product<\/strong> within a month of its launch. The stablecoin&#8217;s <strong>smart contract infrastructure<\/strong> underwent <strong>three separate audits<\/strong> in October\u2014conducted by <strong>Pashov<\/strong>, <strong>Quantstamp<\/strong>, and <strong>Cyfrin<\/strong>\u2014with no <strong>high or medium-level vulnerabilities<\/strong> identified.<\/p>\n<p>With USDtb&#8217;s launch, Ethena aims to optimize capital allocation in declining markets while further strengthening the mechanisms supporting its existing stablecoin, <strong>USDe<\/strong>. This strategic move also minimizes associated risks while bolstering investor confidence.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Stablecoin_Market_Outlook\"><\/span>Stablecoin Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ethena\u2019s USDe recently surpassed <strong>Dai (DAI)<\/strong> to become the <strong>third-largest stablecoin<\/strong>. However, its <strong>market cap of $5.87 billion<\/strong> still significantly trails behind leaders <strong>USDT ($140.6 billion)<\/strong> and <strong>USDC ($42.1 billion)<\/strong>.<\/p>\n<p>The overall <strong>stablecoin market<\/strong> has exceeded <strong>$200 billion<\/strong> in value, marking rapid growth. Analysts anticipate this figure to <strong>double to $400 billion by 2025<\/strong>, driven by the potential approval of <strong>stablecoin regulations<\/strong> in the <strong>United States<\/strong>.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 16, Ethena Labs launched its new stablecoin, USDtb, amassing a total of $65.4 million in total value locked (TVL) within its first day. Supported by the BlackRock BUIDL Fund, USDtb is backed 1:1 by cash or cash-equivalent assets, designed to protect investors during volatile market conditions. Backing Structure and Liquidity USDtb derives 90%<\/p>\n","protected":false},"author":28,"featured_media":33668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[535,847,4390,6969,10173,10174,943,4833,10148],"class_list":["post-33667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-blackrock","tag-crypto-news","tag-ethena-labs","tag-market-outlook","tag-stablecoin-market","tag-tokenized-treasury","tag-usdc","tag-usde","tag-usdtb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethena Labs Launches USDtb Stablecoin with Strong Debut - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ethena-labs-launches-usdtb-stablecoin-with-strong-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethena Labs Launches USDtb Stablecoin with Strong Debut - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On December 16, Ethena Labs launched its new stablecoin, USDtb, amassing a total of $65.4 million in total value locked (TVL) within its first day. Supported by the BlackRock BUIDL Fund, USDtb is backed 1:1 by cash or cash-equivalent assets, designed to protect investors during volatile market conditions. 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