HedgeCo.Net — FalconX and Ethena announced a $1 billion secured warehouse facility that will deploy assets backing Ethena’s USDe synthetic dollar into overcollateralized institutional credit. FalconX’s August 19 statement is the primary. CoinDesk and crypto.news independently reported the same $1 billion facility, the same SPV structure, and the same roles.
FalconX will originate, service, and manage collateral. Ethena holds a first-priority security interest over the vehicle’s assets. Collatera...
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