Wu said that StablecoinX announced the completion of a $530 million financing, bringing its total fundraising to approximately $895 million through PIPE model, aimed at building a tool that can hold over 3 billion ENA. Ethena Labs stated that if StablecoinX continues to purchase locked ENA from Ethena Foundation or its affiliates in the future, the cash obtained will be used to repurchase spot ENA. The coin purchase plan is set as follows: when ENA is above $0.70, $5 million will be invested daily, and if it falls below $0.70 or the drop exceeds 5% within 24 hours, $10 million will be invested daily.