StablecoinX Inc. @stablecoin_x has announced a $360 million capital raise to purchase $ENA and will seek to list its Class A common shares on the Nasdaq Global Market under the ticker symbol "USDE", which includes a $60 million contribution of ENA from the Ethena Foundation Equity markets will now have direct access and exposure to the most important emerging trend in all of finance: The growth of digital dollars and stablecoins. To bootstrap its acquisition strategy, StablecoinX Inc. will use all of the $260 million cash proceeds from the raise (less amounts for certain expenses) to buy locked ENA from a subsidiary of the Ethena Foundation. Starting today, the Ethena Foundation subsidiary (via third-party market makers) will use 100% of the $260 million cash proceeds from the token sale to strategically purchase $ENA across publicly traded venues over the coming weeks, further aligning the Foundation’s incentives with those of StableCoinX shareholders. The planned deployment schedule is approximately $5m daily from today over the course of the next 6 weeks. At current prices $260m represents roughly 8% of circulating supply. Importantly, the Ethena Foundation has the right to veto any sales of $ENA by StableCoinX at its sole discretion. Ideally, tokens will never be sold with a sole focus on accumulation. To the extent StableCoinX subsequently raises capital with the intent of purchasing additional locked ENA from the Ethena Foundation or its affiliates, cash proceeds from those token sales are planned to be used to purchase spot $ENA. StableCoinX's treasury strategy is a deliberate, multi‑year capital allocation strategy that will enables StableCoinX to capture the enormous value of the secular surge in demand for digital dollars while compounding ENA per share to the benefit of shareholders.

Forever grateful & consider Mable one of the most inspiring person in the space for me. While, I'm at the very bottom right, my support for Mable is unparalleled -- and the position can only move up from here lel, trend is good.

Out of curiosity I actually went to and dug up $YHC's filing this morning for like 15 minutes: - I don't think they ever made much money on a gross profit level, that's a real skill. - 15 mm+ a year of SG&A, big salary packages - Share-count went from like 130k in '23 to 400k in '24 to 1mm+ in 1Q25, prob more now. The company is indeed their ATM. Maybe crypto scammers aren't the worse afterall lol

So what's the Metaplanet of ETH in Japan asking for a friend

I got pinged on this also so just in case you are curious about $YHC.... def a punt but if push comes to shove we will always vote in favor of Robert's plan:

Also getting questions on why $GP, well here's a rundown:

fwiw I think the buyback action in $PUMP just made it investible for liquid funds that were on the fence.

Oh?

Was a fun convo w/ Ovie, didn't expect a real guy when I first got pitched it. To me the key would be whether they can scale to critical mass where $REKT incentives can be waned off and still have the equity box making big FCF w/ reasonable marketing spend. Think once Equity is at terminal scale can probably just do a 1-off takeover offer for all tokenholders or something.