YZi Labs Expands Ethena Labs Stake as USDe Stablecoin Surges

YZi Labs, previously known as Binance Labs, has increased its investment in Ethena Labs after the synthetic stablecoin USDe exceeded a $14 billion market cap. This move underscores YZi Labs' position as a key institutional supporter of Ethena and signals growing interest in synthetic dollar solutions.

Strategic Funding Objectives

Integration of USDe across more exchanges.
Technical expansion on BNB Chain.
Development of new products like USDtb stablecoin and Converge settlement layer.

These initiatives aim to boost USDe adoption across centralized and decentralized platforms, enhancing its utility in the stablecoin and DeFi ecosystems.

"We’re thrilled to deepen our partnership with YZi Labs... With USDe now scaling across exchanges, DeFi protocols, and global user bases, that vision is becoming a reality," said Guy Young, Founder & CEO of Ethena Labs.

ENA Token Volatility

The ENA token faced a 24% decline from a peak of $0.8077.
It is currently testing support at the 50-day EMA.
Last week, it dropped to $0.6546 and is now around $0.67, reflecting a 4-5% daily decline.

Ethena Labs continues to pursue an ambitious roadmap for 2025, including introducing USDtb to the US banking system via Anchorage Digital. Today's announcement highlights significant attention from major investors in the crypto industry.