Stablecoin developer USDe company Ethena Labs has raised $14 million
Participants in the round included Dragonfly, Brevan Howard Digital, BitMEX founder Arthur Hayes’ family office Maelstrom, PayPal Ventures, Franklin Templeton, Fidelity through Avon Ventures and several cryptocurrency exchanges including Binance, Deribit, Gemini and Kraken.
Project founder Guy Young said the round was supposed to be $50 million, but the company decided to limit itself to $14 million, as the money would be enough for development.
Ethena has now reached a valuation of $300 million.