Ethena completes SOC 2 Type II audit with zero exceptions

Ethena Labs, the team behind the synthetic dollar protocol USDe, says it has completed a SOC 2 Type II audit with a clean opinion and zero exceptions. In plain terms, an independent auditor examined the company’s security and availability controls over an extended period and found nothing wrong. What SOC 2 Type II actually means SOC 2 is an auditing framework developed by the American Institute of Certified Public Accountants. It evaluates how a company handles data security, system availability, processing integrity, confidentiality, and privacy. The “Type II” distinction is the important part. A Type I audit checks whether a company’s controls are properly designed at a single point in time. Type II goes further: it tests whether those controls actually worked as intended over a sustained period, typically several months to a year. A “clean opinion with zero exceptions” means the auditor found no instances where controls failed or deviated from their stated design. Why this matters for Ethena and USDe Ethena’s core product, USDe, is a synthetic dollar that maintains its peg through delta-neutral hedging strategies. The protocol uses crypto collateral like staked ETH and BTC, mana...