USDe Stablecoin Developer Ethena Raises $100M: Bloomberg
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USDe Stablecoin Developer Ethena Raises $100M: Bloomberg
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12:00am, Monday, February 24, 2025
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Ethena raised $100 million in a private token sale
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Known as a synthetic stablecoin, USDe differs from other tokens in that it is not backed 1:1 by fiat assets. Instead, it maintains its peg by collateralizing stablecoins and taking futures positions with large open interest
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Ethena, developer of the synthetic stablecoin USDe, has raised $100 million to finance a similar token targeted at traditional financial (TradFi) institutions, Bloomberg reported on Monday. The funding round was completed in December, with Franklin Templeton and Fidelity Investments-affiliated F-Prime Capital among the backers, the report added, citing a person familiar with the matter
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