Category: ethena

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$14M Capital Infusion Catapults Ethena Labs’ Valuation; Stablecoin Ranks 9th Largest

February 17, 2024

On Friday, Ethena Labs, the creators of the stablecoin USDE, secured $14 million in funding from key investors. Following this recent influx of funds and a previous $6.5 million investment from Maelstrom, overseen by Arthur Hayes, in July 2023, the company’s post-valuation has risen to $300 million. USDE Issuer Ethena Labs Raises $14M Ethena Labs,…
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Ethena Raises $6.5 Million to Develop an Ethereum-Based, Banking System Independent Stablecoin

July 21, 2023

Ethena, a protocol that seeks to build a banking system independent stablecoin, has announced that it has raised $6.5 million in its seed round. The round, led by Dragonfly, aims to help issue Ethena’s decentralized stablecoin product in Q3 2023, which was inspired by an article written by former Bitmex CEO Arthur Hayes. Stablecoin Protocol…
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