A consortium of investors completed a $530m investment in StablecoinX Assets and TLGY Acquisition.

A consortium of investors, including Yzi Labs, Brevan Howard, Susquehanna Crypto, IMC Trading, Dragonfly, ParaFi Capital, Maven11, Kingsway, Mirana, and Haun Ventures, completed a $530m investment in StablecoinX Assets, a validator and infrastructure business for the Ethena protocol, and TLGY Acquisition, a special purpose acquisition company. "The Additional PIPE financing provides capital to expand StablecoinX’s future ENA holdings and reflects strong investor conviction in our unique strategy, which provides investors direct exposure to the growth of stablecoins and one of the most exciting digital dollar ecosystems in Ethena. This financing enhances StablecoinX’s ability to pursue a deliberate, multi‑year ENA accumulation strategy while giving public market investors transparent, well‑governed access to the Ethena ecosystem," Young Cho, TLGY Acquisition CEO.