The venture capital form a new company based on the accumulation of the crypto project focused on stables, Ethena (ENA).
The acquisition company for special use TLGY Acquisition, announced early Monday that it had concluded an agreement for a combination of businesses with Stablecoinx assets.
The two companies have agreed with a private investment of around $ 360 million in public equity (PIP), including an investment of $ 60 million in the Ethena Foundation itself, as well as contributions from other high-level investors in space such as Pantera Capital, Galaxy Digital, Wintermute and more.
According to the press release, the VCS believes in “the accumulation of large -scale ENA” in order to provide exposure to shareholders to the “Supercycle of Laïcoin Laïque”.
Said Young Cho, CEO of Tlgy and SC Assets,
“As a first digital dollars transmitter alongside Tether and Circle, Ethena is a direct beneficiary of the growth in the adoption of stablecoin … But it is currently difficult for investors to take advantage of its strong position because the native token ENA is difficult to access in the traditional capital markets. This transaction gives public investors of public investors and well supplied to the Ethena ecosystem.
The deployment of capital to accumulate ENA on a large scale is a deliberate multi -year capital allowance strategy which will allow Stablecoinx to capture the value amortized by the secular overvoltage of the demand for digital dollars while composing intrinsic value by action. »»
At the time of writing, ENA is negotiated at $ 0.53, up more than 100% in July so far.
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