Ethena Unveils $310 Million ENA Buyback Plan to Stabilize Token Value

Ethena Labs has announced a significant buyback program for its native token, ENA, to bolster liquidity and stability within the project. This initiative follows a recent private investment round (PIPE) which raised an additional $895 million for StablecoinX, taking the total funding to approximately that amount. With this substantial influx of capital, Ethena plans to hold over 3 billion ENA tokens on its balance sheet, positioning them strategically to attract more institutional investors and increase overall market interest.