Changpeng Zhao’s YZi Labs Gambles Again on Ethena: A Stablecoin Saga 🎩🦡

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Key Takeaways

Why did YZi Labs back Ethena again? Like feeding caviar to a cat who prefers kibble?

Early investor doubled down as USDe supply hit $13B and TVL reached $14.22B, because nothing says “financial prudence” like betting on a coin named after a mythical creature.

What’s next for the ENA price? A tragic opera or a slapstick comedy?

ENA tripped over its own cape at $0.85 resistance, nosedived 35% in two weeks, and now threatens to moonwalk into the abyss if support crumbles. Traders are clutching pearls and popcorn.

YZI Labs, the venture capital firm helmed by ex-Binance CEO Changpeng Zhao (a man who’s had more comebacks than a disco revival tour), has once again thrown confetti on Ethena [ENA], the protocol behind USDe.

This move aligns with Yzi Labs’ “vision” of building digital dollar infrastructure. Because obviously, what the world needs is more ways to lose money in hexadecimal.

Early ties and renewed support (or: How to Spot a Crypto Groupie)

The YZi Labs-Ethena romance is older than most TikTok trends. The firm was Ethena’s original sugar daddy, investing back in 2024 before the protocol’s public launch. Romance novel material, really.

As for the latest investment amount? Undisclosed. Probably because even they’re not sure how many pizzas it bought.

The renewed backing arrives just as Ethena grows faster than a TikTok dance craze on Red Bull.

USDe has rocketed to third-largest stablecoin status, surpassing $13 billion in supply. Next stop: Monopoly money domination.

Ethena’s TVL climbed to $14.22 billion, while Q3 profits hit $9.25 million-a personal best, apparently. Congrats, now don’t spend it all on NFT yachts.

Nicola Wang, Investment Director at YZi Labs, claimed the firm fell for Ethena’s “crypto-native design.” Translation: they like how it glows in the dark.

She praised Ethena’s synthetic dollar model for generating yield without banks. Revolutionary! Like making a soufflé without an oven. 🧑🍳

Wang added that its long-term vision made it worth deeper support. Because nothing says “long-term” like a sector that reinvents itself every 12 hours.

Ethena eyes expansion with Converge and USDtb (or: How to Spell Chaos in Alphabet Soup)

Ethena’s been busier than a one-armed juggler. In April, it launched on BNB Chain, unlocking new money markets and partnerships. Expect fireworks and/or lawsuits.

The YZi Labs cash infusion will supposedly accelerate these efforts. Fingers crossed they don’t spend it all on blockchain-themed confetti cannons.

The protocol’s also prepping USDtb, a fiat-backed stablecoin compliant with the U.S. GENIUS Act. Because nothing says “genius” like trusting politicians with crypto regulation. 🤡

Meanwhile, Converge-a settlement layer built with Securitize and BlackRock’s tokenization crew-is coming to a blockchain near you. It aims to bring institutional RWAs (Real-World Assets, not your uncle’s vinyl collection) on-chain.

Guy Young, Founder and CEO of Ethena Labs, declared:

“The holy grail of digital dollar distribution has always been embedding stable, yield-bearing assets directly into the core of the crypto economy. With USDe now scaling across exchanges, DeFi protocols, and global user bases, that vision is becoming a reality.”

Spoken like a true poet of the blockchain. 📜✨

ENA struggles despite investment (or: The Ballad of the Sad Crypto Clowns)

Despite the fanfare, Ethena’s ENA token dropped 8.5% in 24 hours. A spectacular pratfall following its failed $0.85 resistance attempt on September 9th. 🎭

Over two weeks? A 35% drawdown. That’s not a correction-it’s a full-on crypto cleanse.

At press time, ENA clung to key support like a toddler on a slip-and-slide. Break below? Expect tears and margin calls. 💸

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2025-09-23 03:42