What to know:
- MEXC Ventures is throwing $36 million at Ethena and its USDe stablecoin. Why? To make synthetic dollars the new cool kids in decentralized finance (DeFi). Because who needs real money, right? 🙄
- Now, USDe isn’t your grandma’s stablecoin. It’s synthetic! Not backed 1:1 by fiat assets. It’s like saying, “I have a dollar, but it’s in my imagination.” It keeps its value by collateralizing other stablecoins and playing the futures game. 🎲
- With the stablecoin market heating up, MEXC thinks Ethena is the next big thing. I mean, who wouldn’t want to invest in something that sounds like a Greek goddess? 🏛️
MEXC Ventures, the investment arm of crypto exchange MEXC, is investing a whopping $36 million into Ethena and its USDe stablecoin. Because why not? It’s not like they could use that money for something sensible.
They’re putting $16 million into Ethena and snagging $20 million in USDe. It’s like a two-for-one sale on synthetic dollars! Who knew finance could be so… creative?
This comes after Ethena raised $100 million last year, backed by big names like Franklin Templeton and Fidelity. You know, just casual investors with deep pockets. 💸
USDe is a synthetic stablecoin, which means it’s not tied to fiat assets like USDT or USDC. It’s more like a “trust me, bro” kind of deal. It keeps its peg by collateralizing stablecoins and taking futures positions. Sounds complicated? It is! 🤷♂️
USDe’s market cap is nearly $6 billion, while traditional stablecoins are flexing with over $50 billion. The total stablecoin market cap? Oh, just a casual $200 billion. No biggie!
MEXC’s backing comes as the stablecoin market gets more competitive. Everyone’s trying to be the next big thing. It’s like a high school popularity contest, but with money.
“As demand for investment in bitcoin and other digital assets continues to rise, stablecoins are set to attract even greater investment,” said Tracy Jin, COO of MEXC. Because who doesn’t want to invest in something that sounds stable?
“MEXC sees Ethena as a key player in the development of diverse stablecoins that will drive the crypto industry forward.” So, basically, they’re betting on the underdog. Good luck with that! 🎉
Read More
- 50 Ankle Break & Score Sound ID Codes for Basketball Zero
- Who Is Harley Wallace? The Heartbreaking Truth Behind Bring Her Back’s Dedication
- 50 Goal Sound ID Codes for Blue Lock Rivals
- Mirren Star Legends Tier List [Global Release] (May 2025)
- League of Legends MSI 2025: Full schedule, qualified teams & more
- 28 Years Later Fans Go Wild Over Giant Zombie Dongs But The Director’s Comments Will Shock Them
- Basketball Zero Boombox & Music ID Codes – Roblox
- Pacers vs. Thunder Game 7 Results According to NBA 2K25
- Nintendo Switch 2 System Update Out Now, Here Are The Patch Notes
- 100 Most-Watched TV Series of 2024-25 Across Streaming, Broadcast and Cable: ‘Squid Game’ Leads This Season’s Rankers
2025-03-12 16:45