In This Article
- Latest Capital Raise Included Investment From the CZ Family Office YZi Labs Amongst Other VC Powerhouses
- ENA Price Surges on StablecoinX Inc.Treasury Strategy Raise While Ethena's USDe Supply Makes New Highs
- BONUS: Snorter Bot (SNORT) Closes In On $3.8M ICO Funding - Is This The Must-Have Token For September?
StablecoinX and TLGY Acquisition have secured an additional $530 million in financing for the purpose of purchasing digital assets, bringing their total commitments to $890 million ahead of a planned merger and a listing on Nasdaq.
The newly combined company will be renamed StablecoinX Inc. and is set to hold more than 3 billion ENA, the native token of the Ethena protocol. Following a slew of other altcoin treasury strategies, this move marks the first dedicated treasury business for the Ethena ecosystem, which issues the USDe and USDtb stablecoins.
StablecoinX Inc. @stablecoin_x has announced an additional $530 million capital raise as part of its $ENA accumulation strategy.
To date, StablecoinX has raised a total of approximately $895M in PIPE financing, which is expected to result in a vehicle with over 3 billion ENA… pic.twitter.com/pdkl1D8u5x
— Ethena Labs (@ethena_labs) September 5, 2025
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Latest Capital Raise Included Investment From the CZ Family Office YZi Labs Amongst Other VC Powerhouses
The capital was raised through a private investment in public equity (PIPE) transaction, enabling public companies to obtain funding by selling discounted shares to institutional investors.
New investors in this venture include YZi Labs, Brevan Howard, Susquehanna Crypto, and IMC Trading, in addition to returning backers such as Dragonfly, ParaFi Capital, Maven11, Kingsway, Mirana, and Haun Ventures.
The PIPE deal was priced at $10 per share, with a portion of the proceeds earmarked for discounted locked ENA purchased from a subsidiary foundation.
“The additional funding strengthens ecosystem resilience, enhances ENA liquidity, and supports the sustainable growth of USDe, USDtb, and future Ethena products,” said Marc Piano, director at the Ethena Foundation, in a statement.
This announcement follows a July 21 disclosure outlining TLGY and StablecoinX’s proposed merger, which included an initial $360 million PIPE financing and a $260 million ENA buyback program.
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ENA Price Surges on StablecoinX Inc.Treasury Strategy Raise While Ethena’s USDe Supply Makes New Highs
(Source – TradingView)
Launched in early 2024 by Ethena Labs, the Ethena protocol issues synthetic dollar stablecoins like USDe and USDtb, which are backed by a delta-neutral hedging model rather than traditional reserves.
The project is overseen by the Switzerland-based Ethena Foundation, which is responsible for governance and ecosystem development. Data from Token Terminal shows that the USDe supply has grown by 31% in the past month, making Ethena the third-largest stablecoin issuer, behind Tether and Circle.
Additionally, Ethena has generated over $500 million in cumulative revenue as of August, recently exceeding $13 million in weekly protocol earnings. On the back of the news, the ENA price has spiked over 10% in the past 24 hours, making it the 39th largest cryptocurrency by market cap.
ENA is now valued at over $5.1 billion based on the circulating supply and $11.1 billion in fully diluted valuation. From a technical analysis perspective, the ENA price has made a clean breakout from consolidation, with it now trading near $0.743.
Price is establishing a trading range between $0.737 and $0.774, with a likely retest expected before continuation. Holding above this zone signals strong bullish intent and could pave the way for a run toward the $0.80 level.
The breakout from the larger descending channel structure reinforces the bullish case, suggesting accumulation has shifted to expansion.
If buyers defend the lower boundary of the range, the ENA price is primed for a continuation move. Failure to hold $0.737 would weaken the setup; however, momentum currently favors the bulls.
BONUS: Snorter Bot (SNORT) Closes In On $3.8M ICO Funding – Is This The Must-Have Token For September?
Snorter Bot (SNORT) is launching as a Solana trading bot for Telegram. Still, it is also multi-chain ready, which means it could expand to any EVM-compatible network at any time, perfectly timed for the upcoming alt season in Q4.
SNORT may be the best memecoin opportunity across all chains as we delve deeper into September, thanks to its entertaining meme branding and extensive utility.
What is this utility? The Snorter Bot features a market-leading trading bot on Telegram, offering the lowest fees available and some of the fastest transaction speeds on the market. It provides SNORT holders with competitive trading fees of just 0.85%, outperforming competitors like Trojan, Maestro, Banana Gun, and BONKBot.
In just over two months since its ICO launch, Snorter Bot has successfully raised over $3.7 million, with eager investors looking to secure a share of this innovative trading tool at early-bird prices as it heads toward $4 million, with $10 million looking a realistic target before the presale comes to a close.
The bot is equipped with built-in MEV protection, an innovative sniper tool, and a copy-trade function, allowing users to follow their favorite wallets and influencers as they make trades.
Investors looking for passive income on their SNORT presale holdings can stake their tokens for an impressive annual percentage yield (APY) of 123%. This offers traders a valuable opportunity to earn passive income while waiting for the Snorter Bot ICO to conclude.
There are fewer than 36 hours left until the Snorter Bot presale moves to its next price stage. Once the timer hits zero, the current price of $0.1035 will no longer be available.
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