StablecoinX Debuts on Nasdaq with $275M Ethena Token Treasury After TLGY Merger
Summary
StablecoinX Inc. has commenced trading on the Nasdaq Capital Market under the ticker USDE, following its merger with TLGY Acquisition Corp. This public debut, which follows the 8-K filed yesterday announcing the merger finalization, brings a new Ethena-linked treasury and infrastructure vehicle to U.S. public markets. The company holds a significant Ethena governance token treasury valued at approximately $275 million, representing about 20% of ENA's total supply and $11.42 per fully diluted share. This provides equity investors a direct listed exposure to the Ethena digital dollar ecosystem.
At the time of this announcement, USDE was trading at $3.76 on NASDAQ in the Crypto Assets sector. The 52-week trading range was $1.01 to $23.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: CryptoProwl.