StablecoinX Reports $21.8M ENA Reserve in First Financial Report

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StablecoinX, the treasury arm of Ethena, has released its first financial report, showing $21.8 million in ENA reserves as of June 30. The reserve includes 28.5 million ENA from PIPE investors and 2.85 million from the Ethena Foundation. The company recently merged with TLGY Acquisition Corporation, becoming a listed entity offering exposure to the digital dollar ecosystem. Its shares and warrants began trading on Nasdaq on June 26 under the tickers 'USDE' and 'USDEW'. The move comes amid ongoing Federal Reserve developments and growing interest in crypto news.

According to ME News, on August 14 (UTC+8), StablecoinX, a treasury company listed on Nasdaq and affiliated with Ethena, released its first financial report, revealing that it has established a reserve of approximately 3 billion ENA tokens, including around 285 million ENA contributed by the Ethena Foundation and approximately 2.75 billion ENA acquired by PIPE investors through cash and in-kind investments. As of June 30, the reserve was valued at approximately $218 million. StablecoinX also disclosed the completion of its business combination with TLGY Acquisition Corporation, becoming one of the first publicly listed companies to provide exposure to a digital dollar ecosystem for traditional capital markets. Its Class A common stock and warrants began trading on Nasdaq on June 26 under the symbols “USDE” and “USDEW,” respectively. (Source: ODAILY)

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