USDe Supply Surpasses 12 Billion, Reaching All-Time High as the GENIUS Act Spurs Surge in Yield-Bearing Stablecoin Issuance

BlockBeats News, August 24 — According to official website data, the supply of USDe, the stablecoin issued by Ethena Labs, has surpassed 12 billion, currently standing at approximately 12.03 billion, marking a new all-time high.

It is worth noting that on July 17, the USDe supply was 5.33 billion. The passage of the "GENIUS Act" has driven a surge in the supply of yield-bearing stablecoins, with USDe’s supply nearly doubling in just under 40 days.