Ethena completed a $100 million funding round in December 2024. This funding is set to drive the creation of a new token for financial institutions and advance the project's development.
Ethena Secured a $100 Million Funding Round In December 2024
According to Bloomberg, Ethena successfully raised $100 million to fund new finance projects. Franklin Templeton and venture capital firm F-Prime Capital, affiliated with Fidelity Investments, were among the investors. Additionally, Dragonfly Capital Partners, Polychain Capital LP, and Pantera Capital Management LP participated in the round. The foundation supporting the project sold ENA tokens to investors at an average price of under 40 cents each. Ethena declined to comment on the token sale. The project manages two digital assets: ENA and USDe, a synthetic version of the dollar.
USDe’s Circulation Reached $6 Billion
Data from CoinGecko shows that the issuance of the USDe token, which yields 9% annually to holders, reached $6 billion. Ethena also managed to offer a return up to 60% following the recent surge in crypto prices in 2025. USDe is classified as a stablecoin on platforms such as CoinMarketCap and CoinGecko. The price of ENA reached $1.67 in mid-December, but it has since fallen to around $0.42, with a market cap of $1.31 billion. Over the past month, ENA has decreased by approximately 50% in value.
Ethena Announced WLFI Partnership in December
On December 18, Ethena Labs announced a strategic partnership with World Liberty Financial, a Trump family crypto project. A proposal was made to add sUSDe as a collateral asset to WLFI's Aave instance. Ethena's connections include significant financial partners, such as the Trump family project, aiming to capitalize on sUSDe's growth and profitability for borrow-and-lend operations.
These financial achievements and strategic partnerships underline the significance and influence of Ethena in the cryptocurrency industry. The development of such projects continues to strengthen their market positions.
