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StablecoinX Sets Nasdaq Debut for Ethena-Focused Infrastructure

AssembleAi
StablecoinX completed its TLGY Acquisition Corp merger and will become the first public stablecoin infrastructure company focused on Ethena when it trades on Nasdaq on Friday. USDe market capitalization has fallen 70% from its October peak to around $4.5 billion today. StablecoinX holds about 3 billion ENA, or around 20% of total supply, valued at about $275 million. The company announced a $360 million capital raise to purchase ENA on Sunday.
ENA-8.00%
USDE-0.02%
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