I have so many normie friends asking how to get exposure to stablecoins and although I normally just advise "buy ETH" some clearly prefer buying stocks.
So this move is huge for the stablecoin powerhouse @ethena_labs, because $ENA has been one of the best ways to play the upside on stablecoin growth, but you had to be savvy enough to get onchain.
So instead of having to buy onchain, big money offchain will be able get ENA levered exposure through this PIPE forming @stablecoin_x, focused on buying ENA.
Ethereum, DeFi, stablecoins, and Ethena are ready for bigger capital allocators to invest.
TLGY announces that it has reached a definitive agreement to complete a business combination and secured $360 million in committed PIPE financing to form StablecoinX, a stablecoin-focused Ethena treasury company.
StablecoinX is expected to be the first pureplay treasury company in the stablecoin vertical and will seek to be listed on Nasdaq under the ticker “USDE.”
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