Stablecoin X Completes Additional $530 Million Fundraising to Expand ENA Purchases

TLGY Acquisition Corp, a special purpose acquisition company, along with infrastructure firm Stablecoin X Assets supporting the Ethena ecosystem, announced the completion of an additional $530 million PIPE fundraising aimed at integration. With a cumulative fundraising of $895 million, the merged entity is expected to hold over 3 billion ENA tokens. A subsidiary of the Ethena Foundation will initiate a $310 million ENA buyback program in the next 6-8 weeks, to be conducted through a third-party market maker. The buyback program for the initial PIPE transaction has already been completed. Currently...