StablecoinX and TLGY Acquisition secure $530 million in financing for digital asset acquisition, totaling $890 million pre-merger and Nasdaq listing. The new entity, StablecoinX Inc., will hold over 3 billion ENA tokens, supporting Ethena stablecoins USDe and USDtb. Investors include YZi Labs, Brevan Howard, and Dragonfly, among others.

Ethena’s USDe stablecoin surpasses $10 billion in supply, fastest in history according to Binance Research. Token Terminal data shows USDe supply growth of 31% in the past month, making Ethena the third-largest stablecoin issuer. Ethena generates over $500 million in cumulative revenue and exceeds $13 million in weekly earnings, driven by demand and hedging model success. The project is also developing USDtb to comply with the US GENIUS Act signed by President Trump.

Read more at Cointelegraph: TLGY, StablecoinX raise $530M PIPE as Ethena USDe hits $12B