Ethena Labs Raises $130M in Seed Funding to Revolutionize Crypto Money with USDe and the Internet Bond

Ethena Labs is thrilled to announce a major milestone as we secure $130,000,000 in our latest funding round, marking a new chapter in our journey to redefine money in the digital age. As a pioneering synthetic dollar protocol built on Ethereum, Ethena is dedicated to providing a crypto-native solution that operates independently of traditional banking systems. Our innovative stablecoin, USDe, achieves its robust, stable value through delta hedging of Ethereum and Bitcoin collateral, ensuring it is fully backed and seamlessly integrated across both CeFi and DeFi landscapes. This substantial investment will empower us to further develop and refine our technology, including the groundbreaking 'Internet Bond'—a globally accessible, dollar-denominated rewards instrument that harnesses revenue derived from staked assets such as Ethereum and insights from perpetual and futures markets. The funding will be strategically allocated to enhance our delta hedging processes, advance our risk management strategies, and bolster the scalability and composability of USDe. By driving progress in these areas, Ethena Labs aims to continually increase the stability and reliability of our synthetic currency solution, ensuring a secure and efficient system for users worldwide. Additionally, the infusion of capital will support expansion initiatives, from technology research and development to broader market adoption efforts, solidifying our role as a key innovator in the DeFi space. This funding round not only reflects the confidence our investors have in our vision and technological capabilities but also sets the stage for Ethena Labs to spearhead the future of onchain money, paving the way for an era where digital finance is more accessible, stable, and in tune with the needs of a rapidly evolving global economy.