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Ethena - Strategic
Overview
Funding Date
February 16, 2024
Financing amount
$14M
Valuation
$300M
Catagory
Subcategory
About Ethena - Strategic
Ethena Labs has successfully secured $14 million in a pivotal funding round, which brought Ethena's valuation to $300 million. Dragonfly and BitMEX founder Arthur Hayes' family office, Maelstrom, co-led the round, other investors included PayPal Ventures, Franklin Templeton, Fidelity via Avon Ventures, Binance, Deribit, Gemini and Kraken.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2018 | 120 | info@dragonflycapitalpartners.com | ||
| Fund | United Kingdom | 2002 | 33 | enquiries@brevanhoward.com | ||
| Fund | Unknown | -- | 9 | -- | ||
| Corporate | United States of America | 2002 | 10 | -- | ||
| Fund | United States of America | 1947 | 24 | -- | ||
| Fund | United States of America | -- | 19 | -- | ||
| Corporate | -- | -- | 5 | -- | ||
| Corporate | Netherlands | 2015 | 7 | info@deribit.com | ||
| Corporate | United States of America | 2021 | 31 | -- | ||
| Corporate | -- | -- | 37 | -- |
Founders & Team
Guy Young
Company Profile / Project Introduction
Ethena is a startup developing the first-ever ‘internet bond’ and a new Ethereum-based stablecoin secured by derivatives. Founded earlier this year, Ethena aims to address the need for accessible, permissionless dollar-denominated savings instruments beyond the US. The firm is working to develop two new products for investors operating outside of the US:
- A US dollar stablecoin with a novel mechanism for maintaining its peg that will enable it to operate entirely independently of the traditional financial system; and
- The first-ever digitally native savings bond.