A recent $890 million investment from investors like YZi Labs and Susquehanna Crypto has significantly bolstered Ethena’s stablecoin infrastructure. This funding will be channeled towards developing the stablecoin network and advancing blockchain-based currency projects. The transaction, facilitated through a private placement known as a PIPE financing, will facilitate the merger of StablecoinX and TLGY, an acquisition company focused on bringing businesses public. The combined entity will establish a dedicated treasury focused on ENA tokens and stablecoins. 530 million additional dollars were raised for this new venture, increasing the total to $890 million. This investment signifies high confidence in Ethena’s strategy for driving growth in its stablecoin ecosystem.