27 C
Lagos
Thursday, October 2, 2025

Mail

spot_img

Crypto Project Ethena Secures $100M Funding from Top Investors

Ethena, a crypto project behind the popular dollar-pegged coin USDe, has raised $100 million in funding from top investors, including Franklin Templeton and F-Prime Capital.

The funding round, completed in December, will help Ethena launch a new stablecoin, iUSDe, tailored for traditional financial institutions. The token will come with transfer restrictions, allowing regulated firms to use it.

Ethena’s singular focus for the first quarter of the year is to work with finance distribution partners to enable their clients to access iUSDe,” said Guy Young, Ethena Labs founder.

USDe, marketed as a “synthetic dollar,” has seen its circulation swell to almost $6 billion, offering holders a 9% yield. The token is backed by a reserve of digital assets, including stablecoins like USDT and USDC.

Ethena uses a version of the basis trade to generate yield, exploiting price discrepancies in spot and futures markets. However, this strategy could be tested in a bear market.

Dragonfly Capital Partners, Polychain Capital LP, and Pantera Capital Management LP also participated in the funding rounds.

Ethena has established connections in the US halls of power, including a strategic partnership with World Liberty Financial, a crypto project promoted by US President Donald Trump and his sons.

Like 👍, Comment, share this article, and Follow us on our social media handles.
0 0 votes
Article Rating
- Advertisement -
spot_imgspot_img
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
spot_img
JolibaLive News!
JolibaLive News!https://joliba.com.ng
JolibaLive | The Information Marketplace 🌍 Citizen's companion. Democratized journalism
CCDJ iRadio8.59

Related Articles

Click Target 💠 For Your Local Weather Update

Lagos
overcast clouds
26 ° C
26 °
26 °
83 %
1.5kmh
97 %
Thu
29 °
Fri
31 °
Sat
30 °
Sun
29 °
Mon
28 °
- Advertisement -spot_imgspot_img

Follow Us

1,666FansLike
8FollowersFollow
0FollowersFollow
0FollowersFollow
34FollowersFollow
4SubscribersSubscribe

Subscribe to our Newsletter

Latest news updates sent each morning direct to your mailbox.

Latest Articles

0
Would love your thoughts, please comment.x
()
x