$ENA News 🚨

StablecoinX Inc has announced a $360 million capital raise to purchase $ENA and will seek to list its Class A common shares on the Nasdaq Global Market under the ticker symbol "USDE", which includes a $60 million contribution of ENA from the Ethena Foundation

Equity markets will now have direct access and exposure to the most important emerging trend in all of finance:

The growth of digital dollars and stablecoins.

To bootstrap its acquisition strategy, StablecoinX Inc. will use all of the $260 million cash proceeds from the raise (less amounts for certain expenses) to buy locked ENA from a subsidiary of the Ethena Foundation.

Starting today, the Ethena Foundation subsidiary (via third-party market makers) will use 100% of the $260 million cash proceeds from the token sale to strategically purchase $ENA across publicly traded venues over the coming weeks, further aligning the Foundation’s incentives with those of StableCoinX shareholders.