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Ethena Labs terminates its operations in Germany and transfers to BVI entity operations.
Gate.io News bot news, according to reports by Wu, Ethena Labs has reached an agreement with the German financial regulator BaFin to liquidate all operations of Ethena GmbH while giving up the application for MiCAR authorization in Germany.
Starting from March 21, Ethena GmbH has suspended all minting and redemption operations. These operations have been completely taken over by Ethena (BVI) Limited, and all original whitelisted users have been transferred to the new entity. Ethena GmbH no longer has any users or direct clients.