StablecoinX2026-06-26 17:24:08StablecoinX Lists on Nasdaq Under USDE Ticker, Holds ~3 Billion ENA TokensCrypto infrastructure company StablecoinX went public on Nasdaq on June 26, 2026, under the ticker USDE, following a merger with SPAC TLGY Acquisition Corp. As of the merger close, the company held approximately 3.029 billion ENA tokens (20% of total supply), valued at around $275 million. StablecoinX focuses on operating within the Ethena ecosystem, providing infrastructure, middleware software, and institutional distribution services. It runs Ethena cross-chain message validation nodes and has developed the Stablecoin Harness middleware stack. Ethena is one of the largest digital dollar issuers, with a combined circulating supply of USDe and USDtb stablecoins of approximately $5.4 billion.1470
StablecoinX2026-06-26 08:31:20StablecoinX Completes SPAC Merger, Lists on Nasdaq with 3 Billion ENA Treasury; USDe Market Cap Falls 70%Stablecoin infrastructure firm StablecoinX announced the completion of its merger with SPAC TLGY Acquisition Corp and the start of trading on Nasdaq under the ticker 'USDE', becoming the first publicly traded company focused on supporting the Ethena ecosystem. The company's treasury holds approximately 3 billion ENA (valued at ~$275 million), representing 20% of total supply. Meanwhile, Ethena's synthetic dollar stablecoin USDe has seen its market cap decline 70% from a peak of $14 billion in October 2024 to $4.5 billion amid the broader crypto downturn.1470
