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MEXC Ventures Raises Ethena Investment to $66M

MEXC Ventures has significantly increased its investment in the Ethena ecosystem to $66 million, which includes a recent $30 million infusion into ENA, the governance token of the Ethena protocol. The investment also comprises a $14 million investment in ENA and a $20 million acquisition of USDe, Ethena's synthetic stablecoin designed to mirror the dollar's value without traditional reserves. The market capitalization of USDe has surged to approximately $14.65 billion since early July. MEXC's strategy focuses on being an ecosystem builder, having invested over $100 million in 40 projects. Leo Zhao, Investment Director of MEXC Ventures, emphasized their role as active contributors rather than just passive investors.

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