How MEXC Ventures Poured $66 Million into Ethena (and Probably Spilled Some Coffee Too)

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Ah, MEXC Ventures, that charming investment arm of the MEXC crypto exchange, has been at it again, making waves at the Token2049 conference. This time, they’ve decided to throw an extra $30 million at Ethena’s governance token, ENA. That’s right-$30 million! And they weren’t even shy about it. No, no, they’ve now committed a total of $66 million across the entire Ethena ecosystem, just like a billionaire throwing a few pennies at a struggling street artist.

It wasn’t that long ago when MEXC Ventures-still riding high on its initial excitement-dropped a modest $16 million into Ethena. But wait, there’s more! They also snagged $20 million worth of USDe, Ethena’s synthetic dollar, which is supposed to stay steady, like a well-behaved dog that never runs off after a squirrel. Isn’t that just adorable?

All in all, it looks like MEXC Ventures is now firmly in the “we love Ethena” camp, pumping cash into both the project’s governance token and its stablecoin system like there’s no tomorrow. One might even say they are “all in” – much like the guy who calls the waitress over to take their order and then promptly says, “I’ll have whatever they’re having.”

Ethena’s Bold Moves in the Crypto Space

Ethena, bless its heart, is trying to shake things up in the stablecoin space. They’re giving folks something dependable-a digital dollar that won’t mysteriously vanish like your socks after laundry day. They’ve also made sure that the governance token, ENA, is so easy to get involved with, even your dog could run for president-if only they had opposable thumbs.

But that’s not all. The company has been expanding faster than a toddler in a candy shop, teaming up with Based to bring USDe into the Hyperliquid ecosystem. Because why not have your cake and eat it too? Who doesn’t want to put a reliable dollar in their back pocket and make governance decisions on the side?

Cecilia Hseuh, MEXC’s Chief Strategy Officer (presumably while juggling three phones and two cups of coffee), made it clear that MEXC isn’t just sending money into the ether (no pun intended). “We’re not just financial backers,” she said, “we’re industry enablers,” which, frankly, sounds like the title of a superhero movie. “The Enablers: Saving Blockchain One Token at a Time.”

And let’s not forget what Valdrin Tahiri, a savvy analyst over at CCN, had to say. He mentioned that Ethena’s expansion and treasury-backed buying strategy could potentially lead to ENA’s price going up, though, of course, this will depend on whether ENA can break through some “critical resistance levels.” So, really, it’s all up to the mystical powers of “resistance” and a healthy sprinkle of luck. 📈

ENA Rockets 7% After the Announcement

And just like that, ENA, the native token, is doing what every token dreams of: skyrocketing by a glorious 7.19% today. Now sitting at a tidy $0.58, it’s officially had its “glory moment,” with a market cap of $4.03 billion. 🎉

MEXC Ventures, never one to shy away from spending big, has already invested over $100 million across 40 projects in the last two years. But wait-there’s more! Seven of those projects have received what they call “empowerment support,” which sounds like something you’d hear from a motivational speaker. This includes marketing campaigns, operational help, and, presumably, a warm hug or two.

Leo Zhao, MEXC Ventures’ Investment Director (the guy who knows what he’s doing when it comes to throwing money around), claims their “synergistic approach”-that’s business speak for “we’re doing a lot of things at once”-creates “unique value for our portfolio companies.” A bit like when you’re really good at juggling, and everyone else is too afraid to try.

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2025-10-01 21:06