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2 clusters · 3 sources · 26 days · First seen · Last updated

StablecoinX corporate and leadership developments

Overview

StablecoinX, a Nasdaq-listed company focused on the Ethena ecosystem, reported its first quarterly results following its merger with TLGY Acquisition Corp. The company disclosed a treasury of approximately 3 billion ENA tokens, representing about 20% of the total supply, which was valued at $218.4 million as of June 30. Despite a net loss of $34.2 million for the second quarter due to digital-asset impairment charges, the company’s shares rose by more than 12% following the disclosure.

By September, StablecoinX appointed Christopher Jensen, a former digital asset executive at Franklin Templeton, as the new CEO. Jensen succeeds founder Ted Chen, who transitioned to the role of board chairman. This leadership change coincides with a significant increase in the valuation of the company’s ENA treasury, which reached approximately $480 million at recent market prices, and the expansion of Ethena’s utility through the launch of the Ethena Pay wallet application.

Entities

Ethena · StablecoinX · TLGY Acquisition Corp. · Nasdaq · Franklin Templeton

Timeline

  1. 3 days ago

    [BUSINESS] 3 sources
    StablecoinX appoints Christopher Jensen as new CEO

    StablecoinX has named former Franklin Templeton executive Christopher Jensen as CEO to manage its massive ENA token treasury, which holds 20% of the total supply.

  2. 28 days ago

    [BUSINESS] 3 sources
    StablecoinX reports $218.4M ENA treasury in first quarterly results

    StablecoinX reported a 3 billion ENA token treasury valued at $218.4 million, representing 20% of the total supply, despite a $34.2 million quarterly net loss.

Sources

blocktempo.com · detlionblood32.wordpress.com · tronweekly.com