Stablecoin X Assets Inc. and Tlgy Acquisition Corp. have announced that they obtained $ 530 million in new private investments in public capital (TUBE) financing, expanding its war chest to $ 890 million.
The increase occurs when companies prepare to merge and list in the Nasdaq under the name of Stablecoinx under the “USDE” ticket. The funds will support a long -term treasury strategy built around the Ethena token in Ethena.
It is expected that Stablecoinx will have more than 3 billion ENA, the companies said, and added that the company is expected to be the first Treasury vehicle dedicated to the Stablecoin protocol.
Investors include Brevan Howard, Susquehanna Crypto and Bom Trading, along with repeated sponsors and paraffi.
The Ethena Foundation is matching the effort with a new repurchase program of $ 310 million, which provides total announced purchases to $ 570 million. Income will be used to acquire ENA in public markets.
To align its strategy with the market structure, Stablecoinx formed a new advisory board chaired by Rob Hadick of Dragonfly.
The Board will focus on governance, associations and the value of long -term shareholders as the company links public capital capital with the economy of Ethena token. The agreement is scheduled to close in the fourth quarter.
Meanwhile, Arkstream Capital has announced that it invested $ 10 million in Ethena Labs, based on an initial investment of $ 5 million made at the end of last year.
