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Ethena Foundation to spin up SPAC called StablecoinX dedicated to buying millions worth of ENA

On Monday, a dedicated unit of the foundation announced it entered an agreement with the TLGY Acquisition (ticker TLGYF) special purpose acquisition company to go public. The Ethena Foundation spun up a newly-formed validator and infrastructure business to purchase millions worth of ENA.

Both firms have also entered into private investment in public equity deals for approximately $360 million total. This includes a $60 million investment from the Ethena Foundation and additional capital commitments from leading investors Dragonfly, Ribbit Capital, Blockchain.com, Pantera Capital, ParaFi Capital, Haun Ventures, Polychain Capital, Galaxy Digital, Wintermute, among others.

Ethena Foundation to spin up SPAC called StablecoinX dedicated to buying millions worth of ENA

On Monday, a dedicated unit of the foundation announced it entered an agreement with the TLGY Acquisition (ticker TLGYF) special purpose acquisition company to go public. The Ethena Foundation spun up a newly-formed validator and infrastructure business to purchase millions worth of ENA.

Both firms have also entered into private investment in public equity deals for approximately $360 million total. This includes a $60 million investment from the Ethena Foundation and additional capital commitments from leading investors Dragonfly, Ribbit Capital, Blockchain.com, Pantera Capital, ParaFi Capital, Haun Ventures, Polychain Capital, Galaxy Digital, Wintermute, among others.

https://www.theblock.co/post/363610/ethena-foundation-to-spin-up-spac-called-stablecoinx-dedicated-to-buying-millions-worth-of-ena