Ethena holds $1.29B in BUIDL-I tokens

Arkham, a blockchain analytics firm, reported on X that Ethena, the issuer of the stablecoin USDe, recently minted $225 million worth of BUIDL-I tokens. This activity occurred about eight hours ago, with Ethena now holding $1.29 billion in BUIDL-I tokens. Ethena Labs launched its USDtb stablecoin last December, which is 90% backed by BlackRock's BUIDL Fund.