StablecoinX announced an additional $530 million in PIPE financing, bringing its total to approximately $895 million. According to Ethena Labs, if StablecoinX continues purchasing locked ENA from the Ethena Foundation or its affiliates, the cash proceeds will be used to buy back spot ENA. Ethena’s buyback plan specifies daily purchases of $5 million if ENA is above $0.70, or $10 million if ENA is below $0.70 or falls more than 5% within 24 hours. https://t.co/JaKg05YnAq ...