Another company has merged with a U.S. shell, issued new shares, and sold tokens to its own microstrategy.

The U.S. company with the code TLGY announced a financing of $360 million for the purchase of ENA, with a key point being that $60 million of the ENA was issued by the Ethena Foundation.

The company stated that it will have market makers buy $5 million worth of ENA daily in the future, expected to continue for 6 weeks, to stock up.

At current prices, this is equivalent to 8% of the circulating supply. But the most crucial point is that the Ethena Foundation holds veto power and can unilaterally decide whether this U.S. microstrategy can sell ENA.