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ARTICLE · 19 MAY 2026

Ethena Labs On The Synthetic Dollar Reshaping Crypto (Video)

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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

United StatesTechnology
Neel Maitra
Neel Maitra

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.

To view the video please click here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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