Coinbase · CLARITY Act · US Congress · The Block
Coinbase Ventures said Tuesday it has invested in Ethena after purchasing ENA tokens on the open market
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Ethena said the two companies have also become partners "to grow onchain finance and savings products.
Key facts
- ENA jumped in price following the announcement, up about 6% during the past 24 hours, price page
- The upcoming integration next week will be the first time Ethena products are available for their 100m+ user base," Ethena founder Guy Young posted to X
- Coinbase Ventures said Tuesday it has invested in Ethena after purchasing ENA tokens on the open market
- The synthetic dollar debuted in early 2024 as a sort of onchain bond that maintained its peg to the dollar using a "delta-neutral" hedging strategy, making it unlike all other stablecoins
Summary
Coinbase Ventures said Tuesday it has invested in Ethena after purchasing ENA tokens on the open market. ENA jumped in price following the announcement, up about 6% during the past 24 hours, price page. It's unclear how Ethena and Coinbase will collaborate around USDC, the second-largest stablecoin by total supply. "Excited to partner with Coinbase for the first time to support their dollar savings products.