# StablecoinX corporate and leadership developments > Live situation record from CLSTR: https://clstr.news/situations/stablecoinx-corporate-and-leadership-developments > Updated: 2026-09-09T01:01:55.000Z. Sources: 3. Developments: 2. 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. ## Timeline ### 2026-09-09: 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. 3 sources. https://clstr.news/cluster/stablecoinx-appoints-christopher-jensen-as-new-ceo ### 2026-08-14: 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. 3 sources. https://clstr.news/cluster/stablecoinx-reports-2184m-ena-treasury-in-first-quarterly-results --- Cite as: StablecoinX corporate and leadership developments. CLSTR, https://clstr.news/situations/stablecoinx-corporate-and-leadership-developments