StablecoinX, the Nasdaq-listed Ethena treasury company, said in its first earnings report that it has built a reserve of about 3 billion ENA tokens worth roughly $218 million as of June 30. The company said about 285 million ENA came from a contribution by the Ethena Foundation, while about 2.75 billion ENA were received by PIPE investors through cash and in-kind investments. StablecoinX also disclosed that it has completed its business combination with TLGY Acquisition Corporation. It described itself as one of the first listed companies to give traditional capital markets exposure to the digital dollar ecosystem. Its Class A common stock and warrants began trading on Nasdaq on June 26 under the symbols USDE and USDEW, respectively.
StablecoinX, the Nasdaq-listed Ethena treasury company, said in its first earnings report that it has built a reserve of about 3 billion ENA tokens. As of June 30, that reserve was worth about $218 million.
Breakdown of the ENA reserve
The company said the reserve includes about 285 million ENA contributed by the Ethena Foundation and about 2.75 billion ENA obtained by PIPE investors through cash and in-kind investments.
Business combination and Nasdaq trading
StablecoinX also said it has completed its business combination with TLGY Acquisition Corporation, becoming one of the first listed companies to offer traditional capital markets exposure to the digital dollar ecosystem.
Its Class A common stock and warrants began trading on Nasdaq on June 26 under the ticker symbols USDE and USDEW, respectively.
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