StablecoinX | Crypto

Ethena’s ENA token leaped over 12% on Saturday following news that StablecoinX Inc. secured an additional $530 million capital raise. The move is part of StablecoinX’s ongoing accumulation strategy for ENA, significantly increasing its token holdings in the Ethena ecosystem. StablecoinX expands ENA holdings StablecoinX has now raised a total of $895 million in private […] The post Ethena token rallies over 12% following StablecoinX’s $530 million capital raise appeared first on CryptoSlate.

TLGY and StablecoinX raised an additional $530 million in financing for its ENA strategy reserve. StablecoinX and TLGY Acquisition have secured an additional $530 million in financing to buy digital assets, bringing total commitments to $890 million ahead of a planned merger and Nasdaq listing. The combined company, to be renamed StablecoinX Inc., is set to hold more than 3 billion ENA, the native token of the Ethena protocol. According to the company, it will be the first dedicated treasury business for the Ethena ecosystem, which issues the USDe and USDtb stablecoins. The capital was raised through a private investment in public equity (PIPE) transaction, which allows public companies to raise capital by selling discounted shares to institutional investors. Read more

The new entity will manage a crypto corporate reserve powered by the ENA token, with investors including Pantera, Galaxy Digital and the Ethena Foundation. StablecoinX, a new infrastructure company within the Ethena ecosystem, is going public through a merger with TLGY Acquisition Corp., securing $360 million to build a crypto corporate reserve anchored by the ENA token. After the merger, the combined company will be called StablecoinX Inc., and plans to list its Class A shares on the Nasdaq stock exchange under the ticker symbol “USDE.”  The new company will provide infrastructure and staking services for the Ethena protocol, while the Ethena Foundation will retain majority voting power in StablecoinX following the merger. The deal includes a $360 million private investment in public equity, with $260 million in cash and $100 million in discounted, locked Ethena (ENA) tokens, the protocol's native coin. Backers include the Ethena Foundation alongside Ribbit Capital, Pantera, Dragonfly, Galaxy Digital, Haun V...

The Ethena Foundation is making a bold push into the public markets by creating a new stablecoin-focused treasury firm, StablecoinX Inc. According to a July 21 statement, the company will go public through a merger with TLGY Acquisition Corp. As part of the deal, StablecoinX plans to invest $360 million into the buyback and accumulation […] The post Ethena launches StablecoinX as ENA climbs 8% and USDe supply crosses $6B appeared first on CryptoSlate.