Ethena Labs has secured $100 million in funding to advance its blockchain initiatives, with a focus on enhancing the transparency and security of its stablecoin, USDe. The funding round involved prominent investors including Franklin Templeton, Polychain, Pantera, Dragonfly, and F-Prime, and was completed in December 2024. The valuation of USDe has reached $5.88 billion. Ethena Labs is also integrating Chaos Labs' Edge Proof of Reserves Oracles to improve real-time transparency in USDe's reserve verification. Meanwhile, the total supply of stablecoins has surpassed $220 billion, with over 27 million active addresses, representing over 1% of the US dollar M2 money supply. The market cap for stablecoins is up nearly 10% this year, with USDT and USDC continuing to dominate the market, holding a combined market share of 89%. USDC has seen an increase in its market share from 20% to 25%, while USDT's share has declined from 73% to 64%.