“The FIRM EYES TO BENEFIT FROM The RAPID GRAWH OF EThena’s Digital Dollar USDE, FITTING INTO A BROADER TREND OF LISTED Companies Accuumulating Cryptocurrencies.”, – WRITE: www.coindesk.com
Access to the filing with the securities and exchange Commission (SEC), The Firm Could Sell Up to $ 2 Billion of Securities, with Plans to Use Proceeds from From Future.
The Company’s Stock Declined As Much As 6% Before Recovering Following the News. IT’s Still Down Nearly 30% Since the FIRM DisCLOSED ITS CRYPTO PIVOT ON AUGUST 25.
With the move, mega matrix said it aims to be the First Publicly Traded Company to Anchor ITS Digital Asset Treasury in Stablecoin Governance by Stashing Ethena’s ENA Token.
Ethena Is The Decentralized Finance (Defi) Protocol Begind The $ 12 Billion USDE “Digital Dollar,” A token Designed to Keep a Stedy $ 1 Price An and Generate Yeld by Holding Spot Cry. BTC$ 110.684.84Ether (ETH) Selling (Shorting) Equal Amount of Derivatives. The Protocol’s Governance Token Ena Could Benefit From Protocol Revenues Once The Mechanism is Activated.
In july, a newly-formed company Called Stablecoinx AnnounCed Similar Plans to Go Public Through A Spaac Merger and Establish Ana Treasury, Targeting To Close.
Digital Asset Treasury Firms, or Dats, Took Wall Street Over by Storm, with Listed Firms Pivoting to Amass Cryptocurrencies by Raising Funds On Traditional Capital Markets. Strategy (Mstr) Pioneered this Playbook to Eventuly Become The Largest Corporate Owner of Bitcoin, While Recent Entrants IncreASINGly Turned Their Focus to Smaller Tokens.
However, The Trend May Have Already Burst with Several Names Plunging 70% -80% in the Past Months and SomeReady Trading Below The Net Asset Value of Their Holdings.
Read More: Crypto Treasury Names Hammered Further As Nasdaq Reportedly Ups Scrutiny
The Chain’s Stablecoin-Firmst Design Aims to Handle Global Payouts, Microtransactions, Remittans and Ai Agentic Payments, Stripe Ceo Patrick Colleris Said.
- Stripe and Paradigm Unveiled Tempo, Their Joint Blockchain Designed for High-ThroughPut Payments that’s Already in Private Test Mode.
- Visa, Deutsche Bank, Shopify, Nubank, Openai and Revolut Are Among Companies Participating in the Design.
- TEMPO Joins A Growing Roster of Stablecoin-Focused Blockchains Competing to Disrupt Cross-Border Payment Flows.
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