Standard Chartered Forecasts Growth for Ethena; Drift and Ostium Launch Recovery Initiatives; Base and Chainlink Roll Out Network Upgrades
Standard Chartered initiated coverage of Ethena and projects the USDe stablecoin could expand roughly eightfold over the next two years as decentralized and traditional finance converge. Drift Foundation recovered approximately $9.2 million of stolen funds and launched a bounty program, while Ostium announced a recovery plan compensating affected users. Base deployed its Cobalt network upgrade with new transaction features, and Chainlink introduced Fulcrum to connect financial institutions with onchain financing infrastructure.
Standard Chartered's bullish outlook on Ethena reflects growing institutional confidence in decentralized finance infrastructure. The bank's projection of eightfold growth for the USDe stablecoin over two years suggests confidence that the convergence between traditional banking and blockchain-based finance will accelerate capital flows toward crypto-native financial products.
Recovery efforts across the sector show mixed progress. Drift Foundation has secured approximately 3% of the $295.4 million lost in April's exploit through freezing and bounty mechanisms, while Ostium's compensation structure prioritizes smaller retail investors, fully reimbursing affected wallets holding 1,000 USDC or less. Meanwhile, Base and Chainlink's infrastructure upgrades indicate the industry is simultaneously building institutional-grade capabilities alongside user protection mechanisms.
These developments could reshape how institutions allocate capital and manage digital assets. If successful, Chainlink's Fulcrum and Base's network enhancements may reduce friction for traditional finance entry into blockchain markets, potentially benefiting market participants seeking regulated infrastructure. However, recovery initiatives suggest ongoing security vulnerabilities may deter cautious institutional adoption. Regulatory expansion under Europe's proposed MiCA revisions could further impact which platforms remain accessible to mainstream users and institutions.