PANews reported on June 25 that according to Cointelegraph, Ethena Labs has reached an agreement with the German Federal Financial Supervisory Authority (BaFin) to initiate a 42-day redemption process for USDe stablecoin holders. BaFin stated that USDe holders must declare redemption to Ethena GmbH before August 6, and after the deadline, the relevant claims will be handled by its offshore affiliate Ethena (BVI) Ltd. The agreement marks the official end of the four-month regulatory dispute between the two parties. Ethena GmbH will be officially liquidated in Germany, the European Union and the European Economic Area. It is not yet known whether it will return to the EU market in the future.