Stablecoinx，Ethena财政部和TLGY合并：ENA的新时代？

Stablecoinx与TLGY的合并及其对Ethena生态系统的影响，重点是ENA令牌管理和未来的Stablecoin发展。

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

Stablecoinx，Ethena财政部和TLGY合并：ENA的新时代？

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财政部和TLGY合并周围的嗡嗡声正达到发烧，这表明了Stablecoin景观的显着转变。让我们深入了解正在发生的事情。

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

Stablecoinx和Tlgy合并：有什么问题？

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正在与特殊目的收购公司TLGY AXECIETION CORP合并。预计这一举动将在2025年第四季度完成，合并后的实体将被称为Stablecoinx Inc.。更重要的是，Stablecoinx Inc.将成为Ethena Ecosystem的专用财政部，管理超过30亿个ENA代币。他们还打算将这些类A级公共股份在纳斯达克列出的股票符号USDE下列出。

Massive Funding Round: $530 Million and Counting

大量资金回合：5.3亿美元，计数

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刚刚获得了5.3亿美元的资金，使他们的总承诺达到了8.9亿美元。最新一轮吸引了一些严肃的球员，例如Yzi Labs，Brevan Howard，Susquehanna Crypto和IMC交易。蜻蜓和帕拉菲资本等现有投资者也在翻了一番。计划？使用大部分现金通过Ethena子公司购买折扣的ENA锁定令牌。

Ethena's Vision: USDtb and Regulatory Clarity

Ethena的愿景：USDTB和监管清晰度

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）并没有停止那里。由于《天才法案》提供的监管清晰度，他们还开发了USDTB，这是一种由菲亚特支持的Stablecoin。 Ethena与Anchorage Digital Bank合作，将自己定位为浏览不断发展的监管环境并确立自己的领导者。

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在现场爆炸了，在短短十个月内就达到了127亿美元的供应。这比USDT和USDC所看到的要快！ Ethena现在是第三大的Stablecoin发行人，其对冲模式产生了超过5亿美元的累计收入。这证明了Ethena的创新方法以及对分散稳定稳定的需求的日益增长的需求。

The Big Picture: What Does It All Mean?

大局：这意味着什么？

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.

在大量资金和战略性ENA收购的推动下，StableCoinx-Tlgy合并巩固了Ethena在Stablecoin市场中的地位。对ENA积累的关注表明，对代币的未来价值及其在乙烯生态系统中的核心作用有着强烈的信念。 Ethena基金会主任Marc Piano指出，资金将提高埃塞纳的灵活性并提高流动性。数字不撒谎。 7月的Stablecoin和解量超过1.5万亿美元，标志着其自2025年初以来的每月总数最高。这次激增可能是由于《天才法》的逝世，该法案为stablecoins提供了急需的监管清晰度。

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.

就个人而言，我认为这一战略举动可能是改变游戏规则的人。通过专注于ENA并建立强大的财政部，Stablecoinx正在创建一个自我增强的生态系统，可以推动USDE和USDTB的显着增长和采用。根据《天才法》的USDTB发展，对监管合规性的承诺增加了另一层信誉和长期可持续性。

Looking Ahead

展望未来

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空间正在加热，Ethena显然将自己定位为主要参与者。随着StableCoinx-Tlgy合并的范围，Ethena生态系统将变得更加有趣。请密切关注该股票符号USDE-这可能只是下一个大事！