Ethena Labs is doubling down on its ecosystem strategy with a two-pronged move: securing $530 million in new funding for its StablecoinX project and rolling out a $310 million buyback program for its native ENA token.
The latest round of private investment in public equity (PIPE) financing lifts StablecoinX’s total fundraising to about $895 million. Once finalized, the venture is expected to hold over 3 billion ENA tokens on its balance sheet. Ethena Labs said this scale will help attract more institutional participants, widen investor interest, and bring additional third-party coverage to the project.
Aggressive Buyback Strategy
Alongside the funding, Ethena has authorized a large-scale ENA repurchase plan to stabilize its token market. A subsidiary of the foundation will spend $310 million over the next 6–8 weeks, supplementing earlier buybacks financed through the initial PIPE raise.
The plan is structured around price triggers:
- $5 million in daily purchases if ENA trades above $0.70.
- $10 million in daily purchases if the price falls below $0.70 or drops more than 5% in a day.
At current valuations, Ethena estimates these combined buybacks — supported by both PIPE funds and third-party investors — will remove roughly 13% of ENA’s circulating supply from the market.
Building Long-Term Liquidity
Executives say the dual approach of scaling StablecoinX and buying back ENA is meant to reassure both retail and institutional holders that the project can support token stability while expanding its stablecoin platform. With more than half a billion dollars in fresh capital and an aggressive buyback mechanism, Ethena is positioning ENA to remain liquid while signaling confidence in its long-term value.
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Source: https://coindoo.com/great-news-for-ethena-investors-310m-ena-buyback-program-announced/