The Epic $890 Million Drama: TLGY and StablecoinX’s Quest for ENA Glory

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Ah, what do we have here? TLGY Acquisition Corp. and StablecoinX Assets Inc. proudly announce that they’ve secured an additional $530 million in PIPE financing. This brings the total PIPE proceeds to a mind-boggling $890 million. And what’s this monumental sum going to? Why, it’s all in support of their grand business combination and a treasury strategy designed to hoard ENA-the prestigious native token of the ethereal Ethena protocol, of course!

Now, brace yourselves, dear investors and aspiring billionaires. The financing, priced at a modest $10 per share (as if you could find that on sale at your local supermarket), includes the star-studded participation of YZi Labs, Brevan Howard, Susquehanna Crypto, and IMC Trading, alongside earlier backers like Dragonfly and ParaFi. Clearly, it’s a who’s-who of the financial elite. The combined entity, henceforth known as StablecoinX Inc., is projected to hold a staggering 3 billion ENA upon its closing. One can only imagine the sheer power this will wield in the world of tokens!

But wait-there’s more! The Ethena Foundation, in its infinite wisdom, will deploy the cash proceeds to gobble up ENA from the public markets. And to add a bit of spice to the mix, they’re initiating a $310 million token buyback, complementing their earlier $260 million buyback program. Because, why not? After all, when you’ve got the money, why not throw it around like confetti?

And lest we forget, StablecoinX has also formed a Strategic Advisory Board, chaired by none other than Rob Hadick. No word yet on whether he will advise on how to spend all that newfound wealth on a yacht or perhaps a luxury space vacation. The world’s your oyster when you have a treasury to fill!

So, in conclusion, stay tuned, dear reader, for more on this thrilling tale of financial wizardry. Who knows what treasures and twists await in the ever-expanding universe of the Ethena ecosystem? 😉

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2025-09-08 15:28