With the flair of a grand soirée, TLGY Acquisition Corp. and SC Assets have decided to merge, birthing StablecoinX—a venture dedicated to the cultivation of an ENA treasury. Endowed with a princely $360 million in PIPE financing, this audacious enterprise aspires to secure an enviable stake in the illustrious Ethena stablecoin realm.
In a display of corporate theatrics, TLGY Acquisition Corp. has announced its binding agreement to merge with StablecoinX Assets Inc., thus conjuring StablecoinX Inc.—an entity destined to master the noble arts of validator services and treasury management within the resplendent Ethena ecosystem.
This munificent $360 million in private investment—a veritable cornucopia of capital—is composed of a stately $60 million bequest from the Ethena Foundation, alongside generous contributions from Pantera Capital, Galaxy Digital, Polychain, and Ribbit Capital. These funds are fated to fuel a grand, multi-year stratagem to accumulate ENA, Ethena’s native token, which forms the very bedrock of one of the grandest decentralized stablecoin systems. 💰
“In this most transparent and judicious transaction, public market investors are granted unobstructed access to the Ethena ecosystem. By marshaling their capital to amass ENA, StablecoinX is set to capture the zeitgeist of digital dollars—thereby compounding intrinsic value per share,” proclaimed Young Cho, the august CEO of TLGY and SC Assets. 👑
And what would a Wildean soirée be without a touch of sage counsel? Guy Young, the illustrious founder of Ethena Labs and sagacious advisor to StablecoinX, chimed in with his own reflections:
StablecoinX’s treasury initiative marks a momentous epoch in the annals of institutional access to the Ethena ecosystem. We are positively overjoyed to champion a strategy that not only deepens the liquidity of ENA but also fortifies the very foundation of Ethena’s realm—thereby synchronizing the interests of shareholders with the enduring prosperity of USDe, USDtb, and a host of forthcoming Ethena innovations. 🎉
In its audacious quest to maximize ENA per share, StablecoinX has embarked on a strategic odyssey—engaging in validator operations, staking, and sagacious accumulation under a permanent capital mandate. Furthermore, the company has forged a five-year alliance with Ethena, thereby securing the right to partake in future token offerings—a maneuver as cunning as it is bold. 🤝
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2025-07-25 08:58