{"id":14686,"date":"2025-02-24T13:02:13","date_gmt":"2025-02-24T13:02:13","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14686"},"modified":"2025-02-24T13:02:13","modified_gmt":"2025-02-24T13:02:13","slug":"usde-stablecoin-developer-ethena-raises-100m-bloomberg","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14686","title":{"rendered":"USDe Stablecoin Developer Ethena Raises $100M: Bloomberg"},"content":{"rendered":"
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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<\/a>.<\/p>\n

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. <\/p>\n

Founder Guy Young said in a blog post in January<\/a> that Ethena has plans to roll out iUSDe, a token tailored to regulated financial institutions. <\/p>\n

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.<\/p>\n

USDe’s market cap has jumped to around $6 billion this month, becoming the third largest stablecoin behind Tether’s USDT and Circle’s USDC, which are worth $142 billion and $57 billion respectively.<\/p>\n

Some observers see USDe as a potential safe heaven during periods of greater <\/a>volatility in the wider crypto market<\/a>. Arthur Hayes, chief investment officer of Maelstrom, has said the digital asset fund has raised its exposure to USDe “to record levels.”<\/p>\n

“We will be positioned with copious amounts of dry powder ready to buy the dip on Bitcoin,” Hayes, who is an investor in and an advisor to Ethena, added.<\/p>\n

Ethena did not immediately respond to CoinDesk’s request for comment on the $100 million funding round.<\/p>\n

Read More: Peter Thiel-Backed Plasma Raises $20M to Develop Bitcoin-Based Network for Stablecoin<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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. Founder […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14686","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14686"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14686\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}