- StablecoinX raises $530 million to strengthen ENA token acquisition strategy.
- Buyback program will stabilize ENA’s price and reinforce market position.
- Ethena Foundation retains veto power over StablecoinX’s ENA sales..
Ethena (ENA) has experienced a strong surge in its price, soaring by 10%, now hovering at $0.7440. The increase follows news of a new round of funding for StablecoinX Inc., which raised an extra $530 million as part of their plan to accumulate ENA tokens. One of the major factors driving the price of ENA upwards has been the increase in funding. With this new capital, StablecoinX continues cementing its position in the market, again establishing its standing in the Ethena ecosystem.
StablecoinX Capital Raise Hits $530 Million
StablecoinX, a major player in the cryptocurrency space, has raised another $530 million to further its strategy of acquiring ENA tokens. This round of funding is a critical component of the company’s multi-year strategy to secure a dominant position in the ENA market.
So far, StablecoinX has raised approximately $895 million through Private Investment in Public Equity (PIPE) financing. Once the deal concludes, StablecoinX will hold over 3 billion ENA tokens, a move that is expected to solidify its leadership in the sector.
StablecoinX Inc. @stablecoin_x has announced an additional $530 million capital raise as part of its $ENA accumulation strategy.
To date, StablecoinX has raised a total of approximately $895M in PIPE financing, which is expected to result in a vehicle with over 3 billion ENA… pic.twitter.com/pdkl1D8u5x
— Ethena Labs (@ethena_labs) September 5, 2025
This new round of funding, which covers about 14% of the circulating supply of ENA tokens, demonstrates StablecoinX’s strong commitment to acquiring a substantial amount of ENA.
The company’s investment strategy has been compared to moves by prominent figures in the cryptocurrency market, such as Michael Saylor’s massive Bitcoin investments and Tom Lee’s Ethereum push. StablecoinX’s approach is seen as a high-stakes move to position itself for future growth in the rapidly expanding digital asset space.
Buyback Program to Support Ethena Token
As part of this new funding round, StablecoinX has outlined a substantial buyback program through a subsidiary of the Ethena Foundation. StablecoinX and its third-party market makers will carry out a buyback program of about $310 million over the next six to eight weeks. This will seek to support the price and general stability of ENA tokens in the market.
This buyback should also reinforce the connection between StablecoinX and the Ethena Foundation, and the program will have a significant impact on the supply of circulating ENA tokens at approximately 13%.
This action is also in line with a previous round of PIPE financing that involved the acquisition of 7.3% of ENA circulating supply. Although StablecoinX invested heavily, the Ethena Foundation still has the authority to veto any sales of ENA by StablecoinX to make sure the foundation can control the course of the token market activity.
This plan is prudently structured to aid in capturing the increasing demand of digital assets and generate long-term value to the holders of the StablecoinX and ENA tokens.
This is a larger stake in Ethena that StablecoinX has decided to purchase, as it is a part of its overall plan of becoming a major player in the digital dollar market. The approach of the company is to produce a significant effect on ENA tokens value, which may be positively impacted by the growing popularity of digital currencies worldwide.
