The post Ethena Labs Raises $100M For TradFi Expansion With New Token – CryptoNinjas appeared on BitcoinEthereumNews.com.

Key Takeaways: Ethena raised $100 million in a private token sale led by Franklin Templeton and F-Prime Capital. The proceeds from this will help create a new token for TradFi and Ethena’s own blockchain. USDe, the stablecoin of Ethena, remains over 100% collateralized, signs of which can also be seen in the risk management approach taken towards trending hacks on exchanges. To recap, the innovative USDe “synthetic dollar” stablecoin developed by Ethena Labs is making waves once again. Hot on the heels of establishing an impressive presence in the DeFi space, the firm has quietly raised a sizable funding round to unveil a new token that targets traditional finance (TradFi) players directly. Funding Drives TradFi Push On February 24th, Bloomberg reported that Ethena’s private token sale, conducted in December 2024, raised a whopping $100 million. Investors purchased Ethena’s governance token, ENA, for an average of $0.4 in the sale. This sale was originally news that boosted the price of ENA to a multi-month high of $1.30 before a downtrend correction. Although the crypto space is no stranger to price changes, the initial jump illustrates the market’s bullish sentiment on Ethena’s vision. This was more than just a funding round; it also established key strategic alliances. The investors list looks like a who’s who in the financial world, including: Franklin Templeton F-Prime Capital (Fidelity Investments) Dragonfly Capital Partners Polychain Capital Pantera Capital Management With such heavyweights involved, it indicates the increasing legitimacy of decentralized finance among mainstream institutions and Ethena’s prospects of melding both realms. Franklin Templeton’s participation, as a firm managing over $1.5 trillion in assets, was a strong endorsement of Ethena’s credibility, and its long-term prospects. This underscores that TradFi is increasingly embracing DeFi, with Ethena positioned at the forefront of this convergence. sUSDe to iUSDe: A Token Built for TradFi What does Ethena intend to do with this new infusion of capital?…

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Filed under: News - @ February 24, 2025 8:18 pm