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Ethena Foundation Launches New $310 Million Buyback Plan
Summary: In breaking news, Ethena announced an additional $530 million StablecoinXPIPE transaction, as the foundation initiates a new $310 million open market buyback plan. On July 21, stablecoin issuer StablecoinX completed a $360 million financing round to acquire ENA tokens, with plans to list Class A common stock under the ticker symbol USDE on the NASDAQ ...
In breaking news, Ethena announced an additional $530 million StablecoinXPIPE transaction, as the foundation initiates a new $310 million open market buyback plan. On July 21, stablecoin issuer StablecoinX completed a $360 million financing round to acquire ENA tokens, with plans to list Class A common stock under the ticker symbol USDE on the NASDAQ Global Market. Ethena Foundation will contribute $60 million worth of ENA tokens. To kickstart the buyback plan, StablecoinX will use the $260 million net cash proceeds from the financing (after deducting related expenses) to purchase locked ENA tokens from Ethena Foundation's subsidiary.
