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What if the most consequential dollar-denominated product in crypto isn't actually a stablecoin? In this episode of Dechert's Leading on Crypto, Ethena Labs General Counsel Zach Rosenberg and Deputy General Counsel Larry Florio join Dechert partner Neel Maitra to break down what makes USDe a "synthetic dollar" and why that distinction matters more than ever in a post-GENIUS Act world. From delta-neutral hedging strategies to independent risk governance, this is an essential primer for anyone navigating the rapidly evolving digital assets landscape.
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