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Arthur Hayes Bullish on Ethena’s USDE as $360 Million Capital Raise Targets Nasdaq Listing


Coin Edition
для CoinEdition
News and analysis of Arthur Hayes' bullish stance on the Ethena (ENA) StablecoinX SPAC deal and token buyback in July 2025.
  • Crypto heavyweight Arthur Hayes is strongly bullish on Ethena’s plan to go public via a SPAC deal
  • He is praising the deal’s structure, which includes a massive $260 million open-market ENA buyback
  • His public support is backed by his own recent purchases of 4.2 million ENA for about $1.5 million

Arthur Hayes, a prominent figure in the crypto space, is expressing strong bullish sentiment towards Ethena Labs’ new plan to go public through a $360 million deal for a new entity, StablecoinX Inc. 

StablecoinX is being formed through a SPAC merger with TLGY Acquisition Corp. and is backed by a $360 million private investment in public equity (PIPE). This PIPE deal includes $260 million in cash and $100 million in discounted Ethena (ENA) tokens.

Once the deal closes in the fourth quarter of 2025, StablecoinX will list on the Nasdaq exchange under the ticker USDE. It will become the first publicly traded treasury company focused solely on ENA, the native token of the Ethena protocol.

A $260 million ENA buyback is built into the deal

According to reports, the Ethena Foundation will use the full $260 million in cash from the PIPE deal to purchase ENA tokens on t…

The post Arthur Hayes Bullish on Ethena’s USDE as $360 Million Capital Raise Targets Nasdaq Listing appeared first on Coin Edition.

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Arthur Hayes Bullish on Ethena’s USDE as $360 Million Capital Raise Targets Nasdaq Listing


Coin Edition
для CoinEdition
News and analysis of Arthur Hayes' bullish stance on the Ethena (ENA) StablecoinX SPAC deal and token buyback in July 2025.
  • Crypto heavyweight Arthur Hayes is strongly bullish on Ethena’s plan to go public via a SPAC deal
  • He is praising the deal’s structure, which includes a massive $260 million open-market ENA buyback
  • His public support is backed by his own recent purchases of 4.2 million ENA for about $1.5 million

Arthur Hayes, a prominent figure in the crypto space, is expressing strong bullish sentiment towards Ethena Labs’ new plan to go public through a $360 million deal for a new entity, StablecoinX Inc. 

StablecoinX is being formed through a SPAC merger with TLGY Acquisition Corp. and is backed by a $360 million private investment in public equity (PIPE). This PIPE deal includes $260 million in cash and $100 million in discounted Ethena (ENA) tokens.

Once the deal closes in the fourth quarter of 2025, StablecoinX will list on the Nasdaq exchange under the ticker USDE. It will become the first publicly traded treasury company focused solely on ENA, the native token of the Ethena protocol.

A $260 million ENA buyback is built into the deal

According to reports, the Ethena Foundation will use the full $260 million in cash from the PIPE deal to purchase ENA tokens on t…

The post Arthur Hayes Bullish on Ethena’s USDE as $360 Million Capital Raise Targets Nasdaq Listing appeared first on Coin Edition.

Читать материал на CoinEdition

Читать больше

Joe McCann’s Accelerate Announces $1.51 Billion Solana Treasury Fund

Joe McCann’s Accelerate Announces $1.51 Billion Solana Treasury Fund

Accelerate, a new Solana treasury initiative whose CEO is Joe McCann (also CEO and fo...
The SEC Accidentally Gives Out “Buy the Dip” Watchlist for Altcoins

The SEC Accidentally Gives Out “Buy the Dip” Watchlist for Altcoins

The crypto market has slipped into red, and many investors are now looking at altcoin...