Mega Matrix, a company involved in digital assets, has submitted a $2 billion application to the US Securities and Exchange Commission (SEC) aimed at funding its stabilized coin-centric strategy.
Purpose of Filing
The filing for $2 billion is aimed at funding the Ethena stablecoin ecosystem, with funds directed towards accumulating ENA governance tokens. The objective is to gain a share of revenue generated by the synthetic stablecoin USDe.
Investment Strategy in ENA
Mega Matrix clarifies that the strategy focuses exclusively on ENA, allowing the company to concentrate influence and yield in a single digital asset. Instead of holding USDe directly, the company plans to build a significant position in ENA that could benefit from Ethena’s fee-switch mechanism.
Stablecoin Market and Future
Ethena and its stablecoin model, which differs from traditional stablecoins like USDC and USDt, is attracting investor interest. A noted increase in demand for synthetic stablecoins comes despite restrictions on direct payments to stablecoin holders caused by the GENIUS Act.
The rising interest in digital assets and new investment strategies underscores the growing attention companies are placing on stablecoins and innovative financial instruments.
