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The Crypto project Ethena also established a "treasury company".
The Ethena project, which provides services in the DeFi space, has established a new "treasury company." Joining the frenzy in the crypto world, Ethena raised $360 million in funding through its newly established company named StablecoinX.
How will the investment expenditure distribution be?
With the collected fund of 360 million dollars, 260 million dollars will be used for direct purchases of ENA tokens from the market. 40 million dollars will be used for expenses and costs. The remaining 60 million dollars has been provided to StablecoinX as locked ENA tokens by the Ethena Foundation. On the other hand, if additional capital is raised in the upcoming period, purchases of ENA tokens from the open market may again be made.
ENA per share...
StablecoinX company will operate like other companies that view Bitcoin and Ether as treasury assets, but will do so for ENA. The company's treasury asset will be ENA, similar to newly established Bitcoin and Ether treasury companies, with the goal of increasing the number of coins per share. In this way, shareholders will have a greater token value through their shares.
With the official announcement from the Ethena Foundation, the ENA token saw an increase of more than 10%. ENA had also gained more than 100% in value in the last month.
Published: July 21, 2025 17:02Last Updated: July 21, 2025 17:03