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Ethena Foundation raises $100 million from a private ENA token sale to develop its network and launch institutional products.
What’s the Scoop?
- Major Investment Backing: Ethena Foundation has secured $100 million through a private sale of its ENA governance tokens, with investors including Franklin Templeton, Polychain, Pantera, Dragonfly, and F-Prime.
- Focus on Expansion: The funds will be used to build out the Ethena chain and support the launch of its institutional product, iUSDe, aimed at traditional financial players.
- Token Sale Details: The ENA tokens were sold at an average price of just under $0.40, currently trading at $0.42, down from a previous high of $1.27.
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