StablecoinX has raised $895 million in a new private investment round. The funds will be used both to stabilize the ENA token and to develop the platform.
Total Funding Amount
The latest round of private investment in public equity (PIPE) financing has raised StablecoinX's total funds to about $895 million. Once finalized, the venture is expected to hold over 3 billion ENA tokens.
Aggressive Buyback Strategy
Alongside the funding, Ethena has authorized a large-scale ENA buyback plan to stabilize its token market. A subsidiary of the foundation will spend $310 million over the next 6–8 weeks on buybacks.
Building Long-Term Liquidity
Executives say the dual approach of scaling StablecoinX and buying back ENA is meant to reassure both retail and institutional holders that the project can support token stability while expanding its stablecoin platform.
Thus, the new funding round and buyback program represent steps to strengthen Ethena Labs' market position and support the long-term stability of the ENA token.
