Update
Ethena’s Trading Team Can Approve Borrowers for USDe Lending
Ethena's institutional-lending framework allows its trading team to approve qualifying borrowers for assets backing USDe without individual Risk Committee votes. Borrower documents must be sent to the committee at least three business days before first funding. The committee retains oversight and call-in power, with borrower documents sent privately. The framework also sets loan-to-value rate cards shared monthly with the committee.