StablecoinX Assets Inc. and TLGY Acquisition Corp. raised $530 million in a private placement, increasing the fund to $890 million. The funds will be used to buy back about 3 billion Ethena (ENA) tokens.
The Ethena Foundation is simultaneously launching a $310 million ENA buyback program, bringing the total announced purchases to $570 million. According to management, this should strengthen the token’s liquidity and support the development of the USDe and USDtb products. Ethena Labs founder Guy Yang noted that USDe’s turnover has already exceeded $12 billion, and the new stablecoin USDtb is preparing to enter the US market in accordance with the GENIUS Act.
The deal is expected to close in Q4 2025, after which the combined structure will enter the Nasdaq under the ticker USDE.
Read the original article – https://incrypted.com/stablecoinx-poluchyla-530-mln-dlja-vykupa-tokenov-ethena-y-vyhoda-na-nasdaq/.
