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StablecoinX and TLGY Acquisition have secured an additional $530 million in financing to buy digital assets, bringing total commitments to $890 million ahead of a planned merger and Nasdaq listing.The combined company, to be renamed StablecoinX Inc., is set to hold more than 3 billion ENA, the nativ…
Synthetic stablecoin developer Ethena Labs is winding down its German operations less than a month after regulators identified “deficiencies” in its dollar-pegged USDe (USDE) stablecoin, signaling heightened scrutiny around crypto assets in Europe’s largest economy.Ethena Labs reached an agreement w…
MEXC Ventures, the investment arm of crypto exchange MEXC, is investing a total of $36 million into Ethena and its USDe stablecoin, according to a press release.The firm is making a strategic investment of $16 million in Ethena and bought $20 million in USDe stablecoin to expand the adoption of synt…
Amidst a momentary pause in the current crypto bull run, stablecoins have emerged as a potential factor capable of driving the market forward. Market analyst Burak Kesmeci has provided much insight on this possibility while highlighting the impressive market gains of these stable digital assets in r…