$ENA News 🚨
StablecoinX Inc. has raised $360 million to acquire ENA and plans to list its Class A common shares on the Nasdaq Global Market under the ticker "USDE". This includes a $60 million ENA contribution from the Ethena Foundation.
This move gives equity markets direct exposure to one of the most transformative trends in finance: the rise of digital dollars and stablecoins.
To kickstart its acquisition plan, StablecoinX will use $260 million in cash (net of expenses) to purchase locked $ENA from a subsidiary of the Ethena Foundation.
Starting today, that subsidiary—via third-party market makers—will deploy 100% of the $260 million to strategically buy $ENA on public markets over the coming weeks, tightly aligning incentives between the Ethena Foundation and StablecoinX shareholders.
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