Ethena completes SOC 2 Type II audit with zero exceptions
Ethena (ENA)
Editor:
Eugene Serbin
cryptobriefing.com reports that Ethena Labs has completed a SOC 2 Type II audit for its synthetic dollar protocol, USDe, receiving a clean opinion with zero exceptions. This Type II designation signifies that an independent auditor verified the effectiveness of security and availability controls over a sustained period, rather than just at a single point in time. The audit found no instances where controls failed or deviated from their stated design, covering operational discipline such as access controls and incident response.
As of July 2026, USDe supply stood at approximately $4.46 billion with a backing ratio exceeding 100%. The protocol maintains its peg through delta-neutral hedging using crypto collateral like staked ETH and BTC. Ethena recently launched Ethena Pay in beta on September 1, 2026, to allow users to earn yields and cashback rewards.
Partnerships with Coinbase and asset manager Janus Henderson signal a push to bridge DeFi yields with traditional finance infrastructure. While Circle has long touted SOC 2 compliance as an advantage, no independent confirmation of Ethena’s result had appeared in media or official channels by September 14, 2026. The key question remains whether Ethena will publish the full report publicly or restrict it under NDA for prospective partners.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 14 September 2026. Not the outlet's figures.
Whalio’s Binance spot data for ENA shows a price of $0.1361 with a 1-hour buy ratio of 52.1%, contrasting with a 4-hour ratio of 48.1% and a 24-hour ratio of 45.4%. This indicates that buying pressure is building in the immediate term, as the short-term ratio exceeds both the medium-term and longer-term averages. The 1-hour volume delta is positive at +$56,784, suggesting net inflows in the last hour, whereas the 4-hour delta is -$202,118 and the 24-hour delta is -$1,037,555. Volume delta measures the difference between buy and sell volume; a positive figure means buyers dominated, while negative figures indicate sellers were in control. Over the past 24 hours, net selling pressure has outweighed buying, with a CVD close of -$695,623. Spot volume reached $11,474,450 across 83,088 trades, with net buying occurring in only 12 of the 24 hours.
The latest daily buy ratio of 42.7% sits at the 1st percentile of the last 324 days, against a median of 49.0% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for ENA, averaged over the days leading up to the story.
Compared to the preceding week, the current 24-hour buy ratio of 45.4% is lower than the 7-day average of 49.6%, showing a 4.2-point decline in buying sentiment. Volume for the day sits at 0.31x the weekly average, indicating significantly reduced trading activity compared to recent norms. Over the past eight days, the price has dropped by 22.8%, with a total volume delta of -$3,933,296. Only three of the past seven days saw net buying, suggesting this is an unusual period of sustained selling pressure for the coin. The current day’s volume is notably thin relative to the weekly baseline, reinforcing the lack of strong institutional or retail interest at this price level.