According to CoinMeta, ethena stated on platform X that their unrealized profit and loss exposure to Binance amounts to approximately 8.8 million US dollars, which is lower than Binance's reserve fund of 60 million US dollars. ethena mentioned that all collateral related to exchanges' exposures is held with off-exchange custodian institutions, rather than directly at the exchanges, and the reserve certifications conducted by multiple external institutions will be made public in the coming hours.