So, here we are, folks. Ethena, the genius behind the “synthetic dollar” USDe, has decided to do a little private token sale. You know, just a casual $100 million raised from investors like Franklin Templeton. No big deal, right? 🙄
Apparently, they’re planning to build a new blockchain and launch a shiny new TradFi-focused token. Because, of course, that’s what the world needs—more tokens! Bloomberg reported this on Feb. 24, citing a “person with knowledge of the matter.” Sounds legit! 😏
Now, get this: the private sale wrapped up in December 2024, and investors could snag Ethena’s governance token, ENA, for an average price of $0.4. But wait! ENA shot up to $1.30 in mid-December before plummeting 70%. Classic! 📉
Trump’s World Liberty Financial Teams Up with Ethena—What Could Go Wrong?
Alongside Franklin Templeton, Ethena’s private sale attracted big names like Fidelity’s F-Prime Capital, Dragonfly Capital Partners, Polychain Capital, and Pantera Capital Management. It’s like a who’s who of “let’s throw money at crypto!”
And just when you thought it couldn’t get any wilder, Ethena partnered with World Liberty Financial (WFLI), a DeFi project backed by none other than Donald Trump. Yes, you heard that right! 🤯
In this partnership, WFLI and Ethena are integrating sUSDe—a staked version of USDe—into WFLI’s Aave instance. Users can deposit USDe and get rewards in both sUSDe and WLF tokens. Sounds like a party! 🎉
Ethena Labs’ Founder Hints at a New TradFi Token—Yay or Nay?
According to reports, Ethena plans to use the token sale proceeds to launch its own blockchain and introduce a new TradFi token. Because why not? More tokens, more fun! 🎈
Guy Young, the founder of Ethena Labs, teased the rollout of iUSDe—a product for regulated financial institutions—in a blog post back in January. Just what we need, right? Another token! 🙃
iUSDe is supposed to have a “simple wrapper contract” that adds transfer restrictions. So, it can be held by traditional financial entities. Because, you know, they love restrictions! 😅
Young claims that getting iUSDe into the hands of TradFi partners will be Ethena’s main focus for the first quarter of 2025. Good luck with that! 🤷♂️
CryptoMoon reached out to Ethena for a comment on the $100 million raise but, surprise surprise, no response. Shocking! 🙃
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2025-02-24 15:56