25.07.2025 09:05

Ethena Labs' token, ENA, experienced a remarkable 15.7% price surge within 24 hours, exceeding a 28% weekly increase, briefly reaching $0.5246. This significant jump followed a pivotal announcement: Ethena's partnership with Anchorage Digital, the sole federally chartered cryptocurrency bank in the United States.

This collaboration marks a groundbreaking shift for Ethena's flagship stablecoin, USDtb. Previously issued offshore, USDtb's issuance now transitions entirely onshore, placing it under the regulatory umbrella of US federal financial laws, specifically aligning with the stipulations of the newly enacted GENIUS Act. Anchorage Digital now acts as the official issuer, guaranteeing USDtb's compliance, transparency, and legal usability within US financial institutions. This development positions Ethena as a pioneer in the stablecoin sector, paving the way for full GENIUS Act compliance.

The market reacted swiftly to this news, demonstrating investor enthusiasm for a regulated stablecoin. Consequently, ENA's price skyrocketed, mirroring a simultaneous surge in USDtb transaction volumes. USDtb's robust backing, comprising assets like money market funds, USDC and other short-term financial instruments, further bolstered confidence. Even prior to this onshore transition, USDtb boasted a substantial market capitalization, ranging from $1.4 billion to $1.5 billion—a noteworthy achievement for a project less than a year old. While the Anchorage partnership was a key catalyst, other contributing factors likely influenced this dramatic price increase, although they are not detailed in the original source.

The information presented in this rewrite was obtained from internet sources.