Below is the main Ethena dashboard highlighting Ethena's positions across different exchanges and assets.
Copper & Ceffu operate omnibus solutions with hot/warm/cold wallets wherein all of their users' funds are co-mingled. This does not break or compromise the protocol's ownership or claim on the backing in either solution.
As a result, the Copper omnibus & Ceffu deposit addresses don't represent the value of assets held by the protocol, but show the initial deposit upon direct mints of USDe with the protocol.
