Ethena, the protocol behind the synthetic dollar USDe, is expanding its reserve backing to include equities and commodities while shutting down its HyENA deployer that managed 18 perpetual futures markets on Hyperliquid's HIP-3 framework. This closure, scheduled between August 31 and September 2, 2026, allows users to close positions before the markets delist. Ethena is pivoting from competing in equity perpetual markets, dominated by Trade.xyz, to using these markets as inputs for USDe backing. Additionally, Ethena secured a $1 billion credit facility with FalconX to support its reserve strategy beyond perpetual futures, signaling a strategic shift to broaden USDe's backing and market reach.
Ethena (ENA) price increased by 9.1% to about $0.39, continuing a weekly gain of 16.1%. However, on-chain data reveals the rally is weakly supported, with 82.1% of transfer volume flagged as wash trading and tokens flowing into exchanges, signaling p...
The Ethena Foundation has bought out early investors who sold their ENA tokens, except one wallet that chose to hold. They have proposed a fee switch to fund ENA buybacks, which will be voted on by tokenholders by September 2. The buyback mechanism d...
Bitcoin options with a notional value of about $6.4 billion are set to expire on August 28, 2026. This large expiry could influence market positioning and volatility, though the actual impact on Bitcoin's price depends on factors like strike distribu...
Ethena proposes allocating 95% of net revenue from its branded businesses to buy back ENA tokens once the USDe stablecoin supply reaches $7.5 billion. The Ethena Foundation has also bought locked ENA tokens from seed investors and plans to accelerate...
Ethena Foundation has implemented four key changes to ENA's tokenomics, including buying out locked tokens from early seed investors who sold within nine months to reduce future sell pressure. A new Master Framework Agreement transfers intellectual p...
