Mega Matrix | Crypto

Mega Matrix is betting big on Ethena, positioning itself as the first public proxy for the ecosystem as stablecoin regulation heats up. Public holding company Mega Matrix (MPU) has made the Ethena stablecoin ecosystem the centerpiece of its digital asset strategy, betting that the synthetic dollar project can capture market share from incumbents like Circle. The company’s push comes on the heels of the US GENIUS Act, a comprehensive stablecoin bill that establishes federal oversight of issuers, sets capital and liquidity requirements and creates a framework for banks and fintechs to issue dollar-pegged tokens under regulatory supervision. However, Circle is currently the only publicly traded option to capitalize on the enormous growth of stablecoins, Colin Butler, Mega Matrix’s executive vice president and global head of markets, told Cointelegraph. Read more

The small-cap holding company is betting on Ethena’s ENA governance token, aiming to capture yield from synthetic stablecoin USDe. Mega Matrix, a publicly traded holding company that has shifted into digital assets, filed a $2 billion shelf registration with the US Securities and Exchange Commission (SEC) to fund a stablecoin-focused treasury strategy, underscoring how more firms are experimenting with digital asset reserves. The funding is aimed at the Ethena stablecoin ecosystem, with proceeds directed toward accumulating the protocol’s ENA (ENA) governance token. Mega Matrix said the move is designed to give the company exposure to revenue generated by Ethena’s synthetic stablecoin, USDe, while also securing influence over the protocol’s governance. In SEC terms, a shelf registration is a regulatory filing that lets a company register securities for future issuance, allowing it to sell portions of its stock over time rather than all at once. Read more