Athena Foundation has announced an additional $530 million investment in StablecoinX through a PIPE (Private Investment in Public Equity) transaction. Alongside this, the foundation has launched a new $310 million open market repurchase plan to buy back shares in the market. Previously, StablecoinX completed a financing round raising $360 million aimed at purchasing ENA tokens. The company plans to list its Class A common stock on the Nasdaq Global Market under the ticker “USDE.” As part of this initiative, Athena Foundation will provide ENA tokens worth $60 million. StablecoinX intends to use approximately $260 million of the net cash from the financing, after deducting related expenses, to purchase locked ENA tokens from a subsidiary of Athena Foundation. Both Athena and StablecoinX play significant roles in the cryptocurrency and digital asset markets. This investment is expected to stabilize the value of ENA tokens and increase global investor interest through the Nasdaq listing. Such substantial financial moves are considered crucial for boosting confidence in the digital currency market and attracting investors. However, investors should remain aware of market volatility and regulatory challenges that pose risks to such investments.
Source: binance
