MEXC Ventures Boosts Ethena Investment to $66M in Major Crypto Funding Round

MEXC Ventures has significantly increased its investment in the Ethena ecosystem, bringing total exposure to $66 million according to an official press release. The strategic move includes a $14 million allocation to ENA, the governance token of Ethena protocol, supplementing previous investments of $16 million in ENA tokens and $20 million in USDe acquisition earlier this year. USDe represents a synthetic dollar stablecoin that maintains dollar parity through collateralized stablecoins and futures contracts rather than traditional reserves. The stablecoin has demonstrated remarkable growth, with market capitalization surging from approximately $5.3 billion in early July to $14.65 billion currently. While traditional stablecoins like USDT maintain dominance with $174.7 billion market cap, MEXC Ventures has now deployed over $100 million across 40 investment projects, providing enhanced support to seven portfolio companies. "We perceive our function as ecosystem builders rather than passive investors," stated Leo Zhao, Investment Director at MEXC Ventures.