Ethena Completes SOC 2 Type II Audit with Zero Exceptions

Ethena Labs has successfully completed its SOC 2 Type II audit with a clean opinion and zero exceptions. The American Institute of Certified Public Accountants developed this auditing framework to evaluate a company's security and availability controls over an extended period.

A SOC 2 Type I audit checks whether a company's controls are properly designed at a single point in time, while Type II tests whether those controls actually worked as intended over a sustained period. Ethena's clean opinion with zero exceptions means the auditor found no instances where controls failed or deviated from their stated design.

Ethena's core product is USDe, a synthetic dollar that maintains its peg through delta-neutral hedging strategies. The protocol uses crypto collateral like staked ETH and BTC to keep USDe hovering around $1. As of July 2026, USDe's supply stood at approximately $4.46 billion with a backing ratio exceeding 100%.