This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
The Ethena Foundation is launching StablecoinX Inc., a stablecoin-focused treasury firm, via a merger with TLGY Acquisition Corp. The move includes a $360 million investment in ENA, Ethena’s native token, which surged 8% post-announcement. StablecoinX will list on Nasdaq under the ticker USDE, offering equity investors exposure to digital dollar growth.
- StablecoinX will list on Nasdaq (ticker: USDE) and focus on ENA ecosystem infrastructure, including staking tools.
- USDe's supply has surged past $6 billion, becoming the third-largest stablecoin behind USDT and USDC.
- The GENIUS Act now subjects stablecoin issuers to Federal Reserve oversight, mandating full asset backing.
📎 Related coverage from: cryptoslate.com
Other Tags: ena, Ethena, Ethena USDe, Tether (USDT), USDC, Guy Young, Pantera Capital, Wintermute, Galaxy Digital, Dragonfly, Nasdaq, Polychain Capital, US Federal Reserve