{"id":97758,"date":"2026-06-02T18:48:02","date_gmt":"2026-06-02T18:48:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=97758"},"modified":"2026-06-02T18:48:02","modified_gmt":"2026-06-02T18:48:02","slug":"coinbase-backs-defi-protocol-ethena-but-coin-still-plunges-5","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=97758","title":{"rendered":"Coinbase Backs DeFi Protocol Ethena, But COIN Still Plunges 5%"},"content":{"rendered":"<div>\n<p><strong>Coinbase<\/strong> <a class=\"ticker-link\" data-ticker=\"COIN\" data-exchange=\"NASDAQ\" href=\"https:\/\/www.benzinga.com\/quote\/COIN\" target=\"_blank\" rel=\"noopener\">(NASDAQ:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/COIN\">COIN<\/a>) Ventures invested in Ethena by purchasing <strong>ENA<\/strong> <a class=\"ticker-link\" data-ticker=\"ENA\" data-exchange=\"CRYPTO\" href=\"https:\/\/www.benzinga.com\/quote\/ENA-USD\" target=\"_blank\" rel=\"noopener\">(CRYPTO: <\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/\">ENA<\/a>) tokens on the open market Tuesday, with a partnership bringing USDe to Coinbase\u2019s 100 million users.<\/p>\n<h3 class=\"wp-block-heading\">USDe Integration Goes Live Next Week For 100 Million Coinbase Users<\/h3>\n<p>Ethena founder <strong>Guy Young<\/strong> <a href=\"https:\/\/x.com\/ethena\/status\/2061848907282538608\">confirmed<\/a> the integration launches next week, marking the first time Ethena products become available to Coinbase\u2019s full user base.\u00a0<\/p>\n<p>The partnership centers on dollar savings products and includes <strong>Circle\u2019s <\/strong><a class=\"ticker-link\" data-ticker=\"CRCL\" data-exchange=\"NYSE\" href=\"https:\/\/www.benzinga.com\/quote\/CRCL\" target=\"_blank\" rel=\"noopener\">(NYSE:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/CRCL\">CRCL<\/a>) USDC stablecoin, but the companies have not disclosed the exact structure of the collaboration.<\/p>\n<p>\u201cGiven the evolving nature of the CLARITY Act, we expect further potential tailwinds for onchain native products like USDe from idle balances on exchanges, and Ethena is well-positioned to support this transition,\u201d Young posted on X.\u00a0<\/p>\n<p>The CLARITY Act will determine whether platforms like Coinbase can reward users &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/crypto\/cryptocurrency\/26\/06\/52952557\/coinbase-backs-defi-protocol-ethena-but-coin-still-plunges-5?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"Coinbase\" backs defi protocol ethena but coin still plunges>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase (NASDAQ:COIN) Ventures invested in Ethena by purchasing ENA (CRYPTO: ENA) tokens on the open market Tuesday, with a partnership bringing USDe to Coinbase\u2019s 100 million users. USDe Integration Goes Live Next Week For 100 Million Coinbase Users Ethena founder Guy Young confirmed the integration launches next week, marking the first time Ethena products become [&hellip;]<\/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-97758","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\/97758","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=97758"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/97758\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=97758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=97758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=97758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}