Covalent vs Ethena: which is halal?
Side-by-side Shariah screening of Covalent (CQT) and Ethena (ENA) under the same 27-point methodology. Covalent is rated HALAL while Ethena is rated HARAM.
Is Covalent (CQT) Halal or Haram? Complete Shariah Compliance Analysis 2026 Is Covalent halal? Yes, Covalent is considered halal for Muslim traders and investors with a Shariah…
Full Covalent report →
Is Ethena (ENA) Halal or Haram? Complete Shariah Compliance Analysis 2026 Is Ethena halal? No, Ethena is not considered halal, with a Shariah compliance score of 47.5/100 based on…
Full Ethena report →■ CQT ■ ENA — higher is better. Scores from the 27-point Shariah screening methodology.
■ CQT ■ ENA
Yes, Covalent is considered halal for Muslim traders and investors with a Shariah compliance score of 78.9/100 based on our scholar-approved methodology. The staking mechanism requires careful evaluation from an Islamic perspective. Muslims should also carefully evaluate any DeFi protocols built on this platform to avoid interest-based applications.
“Crypto as a currency... is haram... crypto as a commodity... is legally [halal].”
— MUI (Clarification)
No, Ethena is not considered halal, with a Shariah compliance score of 47.5/100 based on our scholar-approved methodology. The staking mechanism requires careful evaluation from an Islamic perspective.
“Crypto industry prone to manipulation... fraudsters using several techniques to create artificial hype and demand for junk tokens.”
— Amanah Advisors