StablecoinX has merged with TLGY Acquisition Corp. and is now listed on Nasdaq under the ticker USDE, offering public investors direct exposure to Ethena's stablecoin infrastructure. The company holds about $275 million in Ethena governance tokens (ENA), which ties its market value closely to Ethena adoption and ENA pricing. Despite a 70% drop in USDe supply since October, StablecoinX plans to grow through three business lines focused on Ethena infrastructure, software, and institutional distribution. This listing comes amid ongoing regulatory scrutiny of yield-bearing stablecoins and a cooling market for synthetic dollars like USDe.
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...
Ethena Foundation bought locked ENA tokens from early investors who sold after October 2025, ending the monthly token unlock schedule by October 5, 2026. This move helped push ENA's price up nearly 100% in a month. A governance vote is underway to st...
