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Mega Matrix is positioning itself as the first public proxy for the Ethena stablecoin ecosystem amid growing regulatory clarity. The move comes as the US GENIUS Act establishes federal oversight for stablecoin issuers. This strategic pivot aims to capture market share from incumbents like Circle in the rapidly expanding stablecoin market.
- Mega Matrix becomes first public company to proxy Ethena's synthetic dollar ecosystem
- US GENIUS Act establishes federal oversight and requirements for stablecoin issuers
- Circle currently remains the only publicly traded stablecoin investment option
📎 Related coverage from: cointelegraph.com
Related Tags: Circle Stablecoin