Stablecoinx，Ethena財政部和TLGY合併：ENA的新時代？

Stablecoinx與TLGY的合併及其對Ethena生態系統的影響，重點是ENA令牌管理和未來的Stablecoin發展。

StablecoinX, Ethena Treasury, and the TLGY Merger: A New Era for ENA?

Stablecoinx，Ethena財政部和TLGY合併：ENA的新時代？

The buzz around StablecoinX, the Ethena treasury, and the TLGY merger is reaching fever pitch, signaling a significant shift in the stablecoin landscape. Let's dive into what's happening.

Stablecoinx，Ethena財政部和TLGY合併周圍的嗡嗡聲正達到發燒，這表明了Stablecoin景觀的顯著轉變。讓我們深入了解正在發生的事情。

The StablecoinX and TLGY Merger: What's the Deal?

Stablecoinx和Tlgy合併：有什麼問題？

StablecoinX is gearing up to merge with TLGY Acquisition Corp, a special purpose acquisition company. This move is projected to finalize in the fourth quarter of 2025, and the combined entity will be known as StablecoinX Inc. More importantly, StablecoinX Inc. will become the dedicated treasury for the Ethena ecosystem, managing over 3 billion ENA tokens. They also intend to get those class A common shares listed on Nasdaq under the ticker symbol USDE.

StableCoinx正在與特殊目的收購公司TLGY AXECIETION CORP合併。預計這一舉動將在2025年第四季度完成，合併後的實體將被稱為Stablecoinx Inc.。更重要的是，Stablecoinx Inc.將成為Ethena Ecosystem的專用財政部，管理超過30億個ENA代幣。他們還打算將這些類A級公共股份在納斯達克列出的股票符號USDE下列出。

Massive Funding Round: $530 Million and Counting

大量資金回合：5.3億美元，計數

StablecoinX just secured an additional $530 million in funding, bringing their total commitments to a whopping $890 million. This latest round attracted some serious players like YZi Labs, Brevan Howard, Susquehanna Crypto, and IMC Trading. Existing investors like Dragonfly and ParaFi Capital are also doubling down. The plan? Use a chunk of that cash to buy discounted ENA locked tokens through an Ethena subsidiary.

Stablecoinx剛剛獲得了5.3億美元的資金，使他們的總承諾達到了8.9億美元。最新一輪吸引了一些嚴肅的球員，例如Yzi Labs，Brevan Howard，Susquehanna Crypto和IMC交易。蜻蜓和帕拉菲資本等現有投資者也在翻了一番。計劃？使用大部分現金通過Ethena子公司購買折扣的ENA鎖定令牌。

Ethena's Vision: USDtb and Regulatory Clarity

Ethena的願景：USDTB和監管清晰度

Ethena isn't stopping there. They're also developing USDtb, a fiat-backed stablecoin, thanks to the regulatory clarity provided by the GENIUS Act. Partnering with Anchorage Digital Bank, Ethena is positioning itself to navigate the evolving regulatory landscape and establish itself as a leader.

埃塞娜（Ethena）並沒有停止那裡。由於《天才法案》提供的監管清晰度，他們還開發了USDTB，這是一種由菲亞特支持的Stablecoin。 Ethena與Anchorage Digital Bank合作，將自己定位為瀏覽不斷發展的監管環境並確立自己的領導者。

USDe's Meteoric Rise

USD的迅速崛起

Ethena's USDe stablecoin has exploded onto the scene, reaching a supply of $12.7 billion in just ten months. That's faster growth than USDT and USDC saw! Ethena is now the third-largest stablecoin issuer, and their hedging model has generated over $500 million in cumulative revenue. It’s a testament to Ethena's innovative approach and the growing demand for decentralized stablecoins.

Ethena的USDE Stablecoin在現場爆炸了，在短短十個月內就達到了127億美元的供應。這比USDT和USDC所看到的要快！ Ethena現在是第三大的Stablecoin發行人，其對沖模式產生了超過5億美元的累計收入。這證明了Ethena的創新方法以及對分散穩定穩定的需求的日益增長的需求。

The Big Picture: What Does It All Mean?

大局：這意味著什麼？

The StablecoinX-TLGY merger, fueled by massive funding and strategic ENA acquisitions, solidifies Ethena's position in the stablecoin market. The focus on ENA accumulation suggests a strong belief in the token's future value and its central role in the Ethena ecosystem. Marc Piano, the director of the Ethena Foundation, pointed out that the funding will improve Ethena’s flexibility and increase liquidity. The numbers don't lie. Stablecoin settlement volumes exceeded $1.5 trillion in July, marking its highest monthly total since the start of 2025. This surge is likely due to the passing of the GENIUS Act, which provided much-needed regulatory clarity for stablecoins.

在大量資金和戰略性ENA收購的推動下，StableCoinx-Tlgy合併鞏固了Ethena在Stablecoin市場中的地位。對ENA積累的關注表明，對代幣的未來價值及其在乙烯生態系統中的核心作用有著強烈的信念。 Ethena基金會主任Marc Piano指出，資金將提高埃塞納的靈活性並提高流動性。數字不撒謊。 7月的Stablecoin和解量超過1.5萬億美元，標誌著其自2025年初以來的每月總數最高。這次激增可能是由於《天才法》的逝世，該法案為stablecoins提供了急需的監管清晰度。

Personally, I think this strategic move could be a game-changer. By focusing on ENA and building a robust treasury, StablecoinX is creating a self-reinforcing ecosystem that could drive significant growth and adoption for both USDe and USDtb. The commitment to regulatory compliance, as evidenced by the development of USDtb under the GENIUS Act, adds another layer of credibility and long-term sustainability.

就個人而言，我認為這一戰略舉動可能是改變遊戲規則的人。通過專注於ENA並建立強大的財政部，Stablecoinx正在創建一個自我增強的生態系統，可以推動USDE和USDTB的顯著增長和採用。根據《天才法》的USDTB發展，對監管合規性的承諾增加了另一層信譽和長期可持續性。

Looking Ahead

展望未來

The stablecoin space is heating up, and Ethena is clearly positioning itself to be a major player. With the StablecoinX-TLGY merger on the horizon, the Ethena ecosystem is about to get a whole lot more interesting. Keep an eye on that ticker symbol, USDE – it might just be the next big thing!

Stablecoin空間正在加熱，Ethena顯然將自己定位為主要參與者。隨著StableCoinx-Tlgy合併的範圍，Ethena生態系統將變得更加有趣。請密切關注該股票符號USDE-這可能只是下一個大事！