On September 6, Ethena announced an additional $530 million "StablecoinX" PIPE transaction, and the foundation launched a new $310 million open market repurchase plan. BlockBeats previously reported that on July 21, the stablecoin issuer StablecoinX announced the completion of $360 million in financing for the acquisition of ENA Tokens and plans to list Class A common stock on the Nasdaq Global Market under the stock code "USDE". Among them, the Ethena foundation will contribute ENA Tokens worth $60 million. To initiate the acquisition plan, StablecoinX will use the net cash of $260 million obtained from the financing (after deducting related expenses) to purchase locked ENA Tokens from a subsidiary of the Ethena foundation.
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Ethena Foundation launches a new $310 million buyback plan
On September 6, Ethena announced an additional $530 million "StablecoinX" PIPE transaction, and the foundation launched a new $310 million open market repurchase plan. BlockBeats previously reported that on July 21, the stablecoin issuer StablecoinX announced the completion of $360 million in financing for the acquisition of ENA Tokens and plans to list Class A common stock on the Nasdaq Global Market under the stock code "USDE". Among them, the Ethena foundation will contribute ENA Tokens worth $60 million. To initiate the acquisition plan, StablecoinX will use the net cash of $260 million obtained from the financing (after deducting related expenses) to purchase locked ENA Tokens from a subsidiary of the Ethena foundation.