StablecoinX, a publicly listed company, said in its latest operating report that it holds about 3 billion ENA, equal to roughly 20% of the token’s total supply. Based on ENA’s June 30 closing price of $0.07204, the position was valued at about $218.4 million, with a book value of $212.9 million. The company began trading under the ticker USDE on June 26 after completing its merger with TLGY Acquisition Corp.
The report said Ethena Foundation provided 284.95 million ENA to StablecoinX, while PIPE investors contributed about 2.75 billion ENA through cash and tokens. For the quarter, StablecoinX posted a loss of $34.2 million, including a $36.2 million ENA impairment charge. On an adjusted basis, the loss was $188,200.
The report also included operating figures tied to the broader Ethena ecosystem and the company’s infrastructure business. As of July 31, USDe supply stood at $3.9 billion and cumulative protocol fees had topped $800 million. As of Aug. 12, StablecoinX said its decentralized validator nodes had processed more than $3 billion in cross-chain transaction volume. It also reported $62,372 in infrastructure revenue during the final two weeks of June and said it signed its first Harness customer in July, with plans to add distribution services in 2027.
StablecoinX said in its latest operating report that it holds about 3 billion ENA, or roughly 20% of the token’s total supply. Using ENA’s June 30 closing price of $0.07204, the company valued the position at about $218.4 million, with a book value of $212.9 million.
The company began trading under the ticker USDE on June 26 after completing its merger with TLGY Acquisition Corp.
Where the ENA came from
According to the report, Ethena Foundation provided 284.95 million ENA to StablecoinX. PIPE investors contributed about 2.75 billion ENA through cash and tokens.
Quarterly loss and impairment
StablecoinX reported a quarterly loss of $34.2 million. That figure included a $36.2 million impairment charge tied to ENA. On an adjusted basis, the company reported a loss of $188,200.
USDe and infrastructure metrics
As of July 31, Ethena’s USDe supply had reached $3.9 billion, while cumulative protocol fees had exceeded $800 million.
As of Aug. 12, StablecoinX said its decentralized validator nodes had processed more than $3 billion in cross-chain transaction volume. The company reported $62,372 in infrastructure revenue during the final two weeks of June. It also signed its first Harness customer in July and said it plans to add distribution services in 2027.
The figures were cited by Bitcoin.com News and carried by Odaily.
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