StablecoinX Reports $21.8M in ENA Reserves in First Financial Report

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StablecoinX, the treasury arm of Nasdaq-listed Ethena, released its first financial report, showing $21.8 million in ENA reserves as of June 30. The reserve includes 28.5 million ENA from the Ethena Foundation and 275 million ENA from PIPE investors. The company completed its merger with TLGY Acquisition Corporation, entering traditional markets with exposure to the digital dollar. Its shares and warrants began trading on June 26 under the tickers 'USDE' and 'USDEW'. This move aligns with ongoing crypto news and developments in Federal Reserve updates.

Odaily Planet Daily report: Ethena’s treasury company, StablecoinX, a Nasdaq-listed entity, released its first financial report, revealing that it has established a reserve of approximately 3 billion ENA tokens, including about 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 the 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.

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