Ethena Raises $6.5M Led by Dragonfly Capital, @cryptohayes for USDe in 2024

Ethena is thrilled to announce a $6.5 million seed funding round led by Dragonfly Capital, with participation from @cryptohayes and major derivative exchanges, aimed at developing USDe, the first scalable stablecoin not reliant on the banking system. The investment highlights the confidence in Ethena's mission to dominate the 'synthetic dollar' market through tier 1 partnerships and strategic alliances. Supporters, including Hashed and individuals with deep roots in cryptocurrency and traditional finance (TradFi), commend Ethena's immense progress in stealth and its vision for USDe. This backing is poised to bolster Ethena's efforts in 2024 to establish USDe as a leading synthetic dollar, leveraging deep strategic partnerships to merge culture with cryptocurrency.