StablecoinX holds $218M worth of ENA in reserves as of Q2

StablecoinX, an Ethena infrastructure company, disclosed it held 3 billion ENA worth $218 million in reserves as of the second quarter. The holdings consist of about 285 million ENA provided by the Ethena Foundation and 2.75 billion ENA secured by private investment in public equity, or PIPE, investors. StablecoinX completed its merger with TLGY, a special purpose acquisition company, and listed on Nasdaq in June.