TechFlow news, April 15 — Ethena Labs announced today that it has reached an agreement with Germany's financial regulatory authority BaFin to shut down all business activities of Ethena GmbH and withdraw its MiCAR regulatory authorization application in Germany. The company stated that since March 21, 2025, Ethena GmbH has ceased all minting and redemption operations, with all related business now fully taken over and operating normally by Ethena (BVI) Limited. All previously whitelisted users who interacted with Ethena GmbH have been transferred to Ethena (BVI) Limited upon request, and there are currently no remaining whitelisted users or direct customer relationships associated with Ethena GmbH.
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