Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsOn June 4, 2025, MEXC announced that it had acquired $20 million worth of Ethena’s USDe and reported that USDe’s total value locked (TVL) on its exchange exceeded $100 million in May. Those are historical figures reported by MEXC—not independently verified figures or a statement of the exchange’s current holdings.
What MEXC announced
In its June 4, 2025 announcement, MEXC said it had previously invested $16 million in Ethena and later acquired $20 million worth of USDe. The release linked the purchase with increased ENA trading activity and higher USDe TVL, but it did not provide independent evidence that the purchase caused either change.
MEXC said USDe TVL on its exchange exceeded $100 million in May 2025, making MEXC the second-largest centralized-exchange holder of USDe TVL at that time. The announcement also put USDe’s circulating supply near $5.2 billion and described it as the fourth-largest stablecoin by market capitalization. These are contemporaneous figures and characterizations from MEXC, not current statistics or independently confirmed rankings. MEXC’s announcement
What the $100 million TVL figure means
TVL refers here to the amount of USDe MEXC reported on its exchange. It is not USDe’s global circulating supply. The two figures describe different things: the MEXC figure concerns one exchange, while circulating supply concerns tokens in circulation more broadly. MEXC’s reported May milestone should therefore not be read as saying that USDe’s total supply was $100 million.
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What the announcement does—and does not—establish
- It establishes what MEXC reported: a $20 million USDe acquisition, a prior $16 million investment in Ethena, and exchange TVL above $100 million in May 2025.
- It does not independently verify those figures: the accompanying PR Newswire item identifies MEXC as the provider of the news, so it is a distribution of the company’s announcement rather than separate corroboration. PR Newswire’s distribution
- It does not establish current holdings or promotions: the announcement is dated June 4, 2025, and does not show that the reported figures or offers remain in effect.
The release also described a $1 million prize pool, limited-time zero-fee trading pairs, and staking rewards. Those were historical campaign descriptions; their availability now is not established.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What USDe is—and what this announcement cannot tell you
The announcement identifies USDe as Ethena’s stablecoin, but it is not a technical explanation of how the asset is backed, hedged, redeemed, or exposed to risk. It also does not make MEXC’s description of USDe’s stability a guarantee. Before making a decision involving USDe, consult current primary documentation from Ethena and review how access, redemption, liquidity, and risks apply to your location and circumstances.
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