Ethena Crypto Project Raises $100 Million to Fund Finance Foray
Article
Authors
Ryan Weeks
Publish date
Feb 24, 2025 - 12:00am
Web URL
https://www.bloomberg.com/news/articles/2025-02-24/ethena-ena-crypto-project-raises-100-million-to-fund-finance-foray
Referenced by
Ethena raised $100 million in a private token sale
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When crypto markets are booming and funding rates — the interest paid by bullish traders to take on leverage for futures bets — are high, the mechanism Ethena relies on can translate into sky-high yields
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Layered on top of that is more complex financial engineering intended to generate yield for holders, something USDe’s biggest competitors don’t do
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