TLGY Merges with StablecoinX and Raises $360.0 Million to Advance ENA Treasury Strategy

SPAC company TLGY Acquisition Corp has announced a merger with Ethena ecosystem infrastructure company StablecoinX Assets Inc., with plans to list on the Nasdaq under the ticker symbol USDE. To support the transaction, TLGY and StablecoinX have signed a PIPE investment agreement of approximately $360.00 million, of which $260.00 million will be used to purchase locked ENA. The Ethena Foundation has simultaneously launched a $260.00 million $ENA repurchase program. [Wu Blockchain]