if approved, USDe supply must hit $7.5b before the Ethena Foundation buys ENA. at $4.043b, USDe needs 85.5% growth first, leaving ENA with no program bid now. to fund purchases, Ethena would cut sUSDe distributions, weakening the yield incentive for more USDe growth.
BREAKING: @krakenfx FLIPS SOLANA DISINFLATION VOTE FROM "AGAINST" TO "FOR" AFTER LISTENING TO SOLANA USER FEEDBACK
@krakenfx CO-CEO @arjunsethi DECLARES "CUSTODIANS SHOULD BE CONDUITS, NOT VOICES"
@Helius CEO @mert SAYS PROPOSAL STILL NEEDS 1-2%
BREAKING: SOLANA DISINFLATION PROPOSAL PASSES AFTER @galaxyhq FLIPPED FROM ABSTAIN TO 58% FOR YES JUST BEFORE VOTE ENDED
Cloud-native clearing and custody provider @rqdclearing raised $74M in a funding round led by @baincapital, with participation from @nycapartners, ABN AMRO Clearing.
Extending USDe backing: basis on equity perpetuals.
Equity perpetuals now carry nearly >$6bn of open interest across 200 contracts on the same venues Ethena already executes, growing >10x since March.
Funding rates on equity perpetuals have paid 15-20% on average, >5x the Bitcoin funding rates in 2026, with near-zero correlation to crypto funding.
The underlying asset base is >$150 trillion compared to ~$2.5 trillion of crypto, making this the most scalable extension of the basis allocation to date. We expect RWA perpetuals to eclipse crypto allocations in USDe's backing within 12-24 months.
Safe implementation of the equity basis trade at large size requires the exact infrastructure Ethena has already operated at scale with 0bps of impairment on over $30b of mint and redeem flow for >2.5 years: precise delta-neutral execution at scale, secure off-exchange custody & settlement, and institutional-grade security practices.
The first partner exchange announcements and deployments will begin over the course of the next few weeks.
Details in the link below:
ENA is forming a potential double bottom 👀📈
Price is defending the $0.10–$0.12 support zone, with buyers stepping in around the lows. A reclaim of the $0.20 resistance could confirm the reversal and unlock stronger upside momentum 🔥
If bulls break through, the chart points toward a potential $0.25 target.
Sentiment: Bullish reversal setup.
$ENA #Ethena #ENA #Crypto #Trading #Bullish
ETHEREUM → ACCUMULATION → BREAKOUT → EXPLOSION 🚀
The Chart is Starting to Look VERY Familiar…
and if history repeats, $ETH Next Target Could be $20,000+
In a devastating upset, @Figment_io has decided to vote against SG-0002 - making them the largest validator thus far to vote against.
There are still several other large sized validators who have yet to cast their vote.
Over-ride your validator's vote: https://t.co/zchWRZZHWj
We are excited to announce four updates regarding the Ethena ecosystem, further details on each point are provided in the blog linked below:
1. Buyout of early investors:
The Ethena Foundation executed a buyout of all locked tokens from certain major seed investors that sold any ENA within the last 9 months.
2. Alignment of Token & Equity:
The Ethena Foundation and Ethena Labs have reached agreement on a Master Framework Agreement, whereby IP and ownership of value accrued by the protocol is assigned to the Foundation exclusively and governed by token holders with no residual cash flow due to equity investors in the Labs entity.
3. Revenue Buybacks:
Governance proposal now live for the implementation of the fee switch whereby net revenue accrued across all business lines under the Ethena brand will be used to programmatically buy back the ENA token.
The vote for revenue buyback fee switch implementation is now here, and has already been approved by the Risk Committee:
https://t.co/2urvkqlE6N
4. Removal of monthly VC unlocks:
The Ethena Foundation and lead investors have agreed to eliminate future overhang associated with monthly VC investor unlocks by releasing unvested tokens. All team tokens remain locked per the original vesting schedules.
Further details and documentation is provided in the blog linked below:
#CertiKInsight 🚨
We have seen an exploit of @MoonwellDeFi lending market on Base.
Attacker manipulated relatively illiquid MAMO’s collateral price, then borrowed real cbBTC
eg. https://t.co/yOBrkzXzfn
~$8.7M has now been aggregated at
https://t.co/7nIcZ59jpw
Stay Vigilant!
Pumpfun Expands Beyond Solana With HyperEVM Token Trading
Pumpfun said its app now fully supports HyperEVM, allowing users to trade any HyperEVM token with USDC. The dominant Solana memecoin launchpad charges 0% trading fees on Solana and 0.1% on HyperEVM, Robinhood, BNB, Base and other supported markets.
Friendtech is trading at less than 300k market cap. I’m offering a 1 mil usd buyout offer to Racer and @paradigm. We can CTO relaunch base:0x0bd4887f7d41b35cd75dff9ffee2856106f86670.
@NexusMutual is voting in its Community subspace to redeem a ~$14.2M investment in @re's $RE and move $9M into reUSDe, a tokenized product that earns yield while retaining exposure to RE.
The team says the position grew from $12M and is nearing the end of its intended lifecycle. The remaining ~$5.2M could help capitalize Fern Re - a proposed Cayman Islands reinsurance entity - but only if the separate Part B vote approves it.
2 wallets have cast 84,692 NXM so far: 100.0% For. Only 27.6% of the 307,217 NXM quorum has been reached.
Voting closes August 28th at 4:28pm UTC.
Proposal: https://t.co/tOXQoZRM1S