StablecoinX and TLGY Acquisition have secured $530 million in additional PIPE financing ahead of their merger and planned Nasdaq listing, forming StablecoinX Inc.
Funding and Its Objectives
StablecoinX, in collaboration with TLGY Acquisition, has received $530 million in additional PIPE financing. The total funding is $890 million. The new entity will be titled StablecoinX Inc. and will manage over 3 billion ENA to support the Ethena ecosystem.
The additional capital will enhance liquidity, bolster the resilience of ENA, and support the development of USDe and USDtb stablecoins, according to Marc Piano of the Ethena Foundation, who described these funds as strengthening the ecosystem's core.
Market Trends of Ethena (ENA)
As of September 7, 2025, Ethena (ENA) is priced at $0.74, with a market cap of $5.07 billion and a maximum supply of 15 billion. It experienced a 1.60% decline in the past 24 hours but saw a 123.60% increase over three months, per CoinMarketCap data.
Strategic Outlook for Ethena
Analysts from Coincu suggest that with the strategic funding and regulatory moves, Ethena is likely to see improved stability and market penetration. These efforts could pave the way for broader adoption and potential regulatory frameworks guiding future stablecoin advancements.
The preparations for the Nasdaq listing and the substantial funding position StablecoinX Inc. to significantly influence the stablecoin market and support the growth of the Ethena ecosystem.
