USDe Stablecoin Developer Ethena Raises $100M: Bloomberg

Article

Authors

Parikshit Mishra
Jamie Crawley

Publish date

Feb 24, 2025 - 12:00am

Publisher

CoinDesk

Web URL

https://www.coindesk.com/business/2025/02/24/usde-stablecoin-developer-ethena-raises-usd100m-bloomberg

Referenced by

Ethena raised  $100 million in a private token sale

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Known as a synthetic stablecoin, USDe differs from other tokens in that it is not backed 1:1 by fiat assets. Instead, it maintains its peg by collateralizing stablecoins and taking futures positions with large open interest

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Ethena, developer of the synthetic stablecoin USDe, has raised $100 million to finance a similar token targeted at traditional financial (TradFi) institutions, Bloomberg reported on Monday. The funding round was completed in December, with Franklin Templeton and Fidelity Investments-affiliated F-Prime Capital among the backers, the report added, citing a person familiar with the matter

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