StablecoinX Raises $360 Million and Launches ENA Treasury Strategy, Plans to List on Nasdaq Under the Ticker "USDE"

According to Jinse Finance, stablecoin issuer StablecoinX has announced the completion of a $360 million funding round, which will be used to acquire ENA tokens. The company also plans to list its Class A common stock on the Nasdaq Global Market under the ticker symbol "USDE." As part of the deal, the Ethena Foundation will contribute ENA tokens valued at $60 million. To initiate the acquisition plan, StablecoinX will use $260 million in net cash proceeds from the funding (after deducting related expenses) to purchase locked ENA tokens from a subsidiary of the Ethena Foundation.