Ethena

This token is currently classified as Haram due to its connection to non-compliant synthetic and derivative-based financial structures.

ENA is currently classified as haram because it is tied to a synthetic financial model that relies on structures raising major Shariah concerns, including derivative-style arrangements, hedging frameworks, or other non-compliant mechanisms. The issue is structural, not merely incidental. Since the token is economically linked to that impermissible architecture, it is not regarded as Shariah-compliant.