stablecoinx

ChainCatcher news, according to on-chain analyst @ai_9684xtpa monitoring, it is suspected that the ENA treasury company StablecoinX has withdrawn 11.87 million ENA from Binance again in the past 3 hours, worth 7.2 million USD. The current holding of ENA has increased to 104 million, with a total value of 63.67 million USD.

ChainCatcher news, according to on-chain monitoring by blogger @ai_9684xtpa, it is suspected that ENA treasury company StablecoinX has continued to accumulate 19.23 million ENA over the past 15 hours, worth 11.8 million dollars, with a proposed price of 0.614 dollars. Currently, the multi-signature address holding ENA has accumulated a total of 88.26 million tokens, worth 54 million dollars.

ChainCatcher news, according to Cointelegraph, StablecoinX and TLGY Acquisition have secured an additional $530 million in funding for the purchase of digital assets, bringing their total committed financing to $890 million ahead of their planned merger and Nasdaq listing.The merged company will be renamed StablecoinX Inc. and is expected to hold over 3 billion ENA. According to the company, this will be the first dedicated funding pool business in the Ethena ecosystem, which issues USDe and USDtb stablecoins. The funds were raised through a private investment in public equity (PIPE) transaction, which allows public companies to raise capital by selling discounted shares to institutional investors.The company's new investors include YZi Labs, Brevan Howard, Susquehanna Crypto, and IMC Trading, as well as returning supporters Dragonfly, ParaFi Capital, Maven11, Kingsway, Mirana, and Haun Ventures. Marc Piano, a director of the Ethena Foundation, stated in a press release, "This additional funding will enhance the resilience of the ecosystem, improve the liquidity of ENA, and support the sustainable development of USDe, USDtb, and future Ethena products."Previously, TLGY disclosed its merger plans with StablecoinX, a $360 million initial PIPE financing, and a $260 million ENA buyback plan on July 21.

ChainCatcher news, according to Lookonchain monitoring, a whale address starting with 0x9e8b that has profited over 14.5 million dollars on Hyperliquid went long on ENA 3 hours ago, with a position size of 27.9 million ENA (worth 20.5 million dollars).In previous news, Ethena announced early this morning an additional 530 million dollars for the "StablecoinX" PIPE transaction, and the foundation launched a new 310 million dollars open market repurchase plan.

ChainCatcher news, Ethena Labs posted on X that ENA Treasury Company StablecoinX announced a refinancing of $530 million as part of its ENA accumulation strategy. Thus far, StablecoinX has raised approximately $895 million through PIPE financing, and it is expected that after the transaction is completed, its balance sheet will hold over 3 billion ENA.A subsidiary of the Ethena Foundation will use the funds raised from this PIPE to initiate an ENA buyback program of approximately $310 million, which is expected to be executed by a third-party market maker within the next 6 to 8 weeks, accounting for about 13% of the circulating supply. The previous round of PIPE financing has been completed, with cumulative purchases accounting for about 7.3% of the circulating supply of ENA. The new buyback deployment plan is as follows: when the ENA price is above $0.70, $5 million will be bought back daily; when the price is below $0.70 or if there is a drop of more than 5% within 24 hours, $10 million will be bought back daily.

ChainCatcher news, according to official sources, the stablecoin issuer StablecoinX has announced the completion of a $360 million financing round to acquire ENA tokens and plans to list Class A common stock under the ticker "USDE" on the Nasdaq Global Market. Among them, the Ethena Foundation will contribute ENA tokens valued at $60 million.To initiate the acquisition plan, StablecoinX will use the net cash proceeds of $260 million (after deducting related expenses) from the financing to purchase locked ENA tokens from a subsidiary of the Ethena Foundation.Starting today, the subsidiary of the Ethena Foundation (through a third-party market maker) will strategically acquire ENA tokens on public trading platforms using the entire $260 million cash obtained from the token sale over the next few weeks, aligning the interests of the foundation more closely with those of StableCoinX shareholders.As planned, approximately $5 million will be invested daily for acquisitions over the next 6 weeks. At current prices, $260 million represents about 8% of the circulating market value of ENA.It is worth noting that the Ethena Foundation has exclusive decision-making authority to veto any sale of ENA tokens by StableCoinX. Ideally, these tokens will only be used for accumulation and not for sale.If StableCoinX subsequently raises funds to purchase more locked ENA from the Ethena Foundation or its affiliates, the cash proceeds from these token sales are planned to be used for spot purchases of ENA.