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🚨 Ethena Foundation to buy back $260M worth of $ENA from the open market — that’s 8% of the circulating supply at current prices.
This comes right after their treasury arm “StablecoinX” raised a massive $360M.
Big moves brewing.
.$ENA $ETHFI
.
#BTCvsETH #ethena #EthenaFoundation #BinanceSquareFamily
This comes right after their treasury arm “StablecoinX” raised a massive $360M.
Big moves brewing.
.$ENA $ETHFI
.
#BTCvsETH #ethena #EthenaFoundation #BinanceSquareFamily
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Ethena (ENA) explodes: StablecoinX establishes a 360 million USD fund, pushing token price up by 10%!
StablecoinX Inc., a company expected to be listed on Nasdaq with the ticker USDE, has established a 360 million USD fund to invest in Ethena (ENA) tokens. This news immediately pushed the price of ENA up by 10%, confirming the appeal of this decentralized stablecoin project.
Accumulation strategy and long-term vision
The investment includes 100 million USD directly from #EthenaFoundation and 260 million USD raised by StablecoinX from top venture capital funds such as Dragonfly, Ribbit Capital, Pantera Capital, and Galaxy Digital. Of this, 260 million USD will be used by StablecoinX to purchase locked ENA from the Ethena Foundation, and the Ethena Foundation commits to using all of this money to buy back ENA directly from the market. This buyback process is expected to take place over the next 6 weeks, with about 5 million USD per week, equivalent to 8% of ENA's circulating supply.
Accumulation strategy and long-term vision
The investment includes 100 million USD directly from #EthenaFoundation and 260 million USD raised by StablecoinX from top venture capital funds such as Dragonfly, Ribbit Capital, Pantera Capital, and Galaxy Digital. Of this, 260 million USD will be used by StablecoinX to purchase locked ENA from the Ethena Foundation, and the Ethena Foundation commits to using all of this money to buy back ENA directly from the market. This buyback process is expected to take place over the next 6 weeks, with about 5 million USD per week, equivalent to 8% of ENA's circulating supply.
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