7Institutional TransitionNewJun 26, 2026
StablecoinX Raises $890M and Debuts on Nasdaq Backed by Ethena Ecosystem
StablecoinX commenced trading on Nasdaq following the closing of its business combination with TLGY Acquisition Corp, with an $890 million war chest tied to the Ethena stablecoin ecosystem. The Nasdaq debut occurred alongside a reported 70% contraction in USDe supply within the Ethena ecosystem.
Story timeline · 2 days
- Jun 27, 20266StablecoinX Lists on Nasdaq as First Public ENA Treasury Vehicle With $890M War Chest
Nasdaq trading confirmed live today; $890M war chest figure and 70% USDe supply contraction context added.
- Jun 26, 20267· this storyStablecoinX Raises $890M and Debuts on Nasdaq Backed by Ethena Ecosystem
Sources · 3
- StablecoinX bets on Ethena ecosystem with Nasdaq debutcointelegraph.com · T1
- StablecoinX debuts on Nasdaq, betting big on Ethena’s ecosystem with $890M war chestcryptobriefing.com · T2
- WSJ: StablecoinX Inc. Announces Closing of Business Combination with TLGY Acquisition Corp. and Commencement of Trading on Nasdaqwsj.com · T2