Ethena Secures $10 Million in Funding on August 1, 2025

According to relevant media reports, Ethena completed a new funding round on August 1, 2025, raising $10 million. The round was led by ArkStream Capital. Following this financing, Ethena’s total cumulative funding has reached $146.5 million.Ethena is developing derivatives infrastructure aimed at transforming Ethereum into a global internet bond through delta-neutral positions on stETH, and is creating the first crypto-native yield-bearing stablecoin, USDE. Since 2023, the project has experienced rapid growth and completed multiple funding rounds. Notably, Ethena launched its mainnet in February 2024, and its token ENA was subsequently listed on several major exchanges.In early 2025, Ethena and Securitize announced plans to launch Converge, an EVM-compatible blockchain, demonstrating continued commitment to technological innovation. In addition, Ethena’s USDe stablecoin has attracted market attention, with its governance proposal involving Aave sparking community discussions around potential conflicts of interest, highlighting ongoing regulatory and governance concerns in the stablecoin sector.Amid intensifying competition in the cryptocurrency stablecoin market, Ethena’s innovative approach introduces new possibilities for the industry. This funding round will further strengthen Ethena’s development in derivatives infrastructure and stablecoins, and is expected to have a positive impact on the broader cryptocurrency ecosystem.