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Project Overview
Ethena is building derivative infrastructure to enable Ethereum to transform into the Global Internet Bond via delta-neutral positions on stETH, to create the first crypto-native, yield bearing stablecoin: USDE.
Janus Henderson Invests in ENA and Enters Strategic Partnership with Ethena to Launch Compliant Investment Products, Including ETFs
According to The Block, ANTIK, the blockchain division of asset management giant Janus Henderson—which oversees $480 billion in assets—has established a position in the ENA token and signed a strategic partnership agreement with Ethena to stake USDe for cash management purposes. The two parties have also committed to jointly developing compliant investment products based on USDe and ENA, including ETFs and ETPs, expected to launch in the second half of 2026. As part of the collaboration, Ethena has incorporated Janus Henderson’s JAAA strategy—which invests in AAA-rated CLOs—into the USDe reserve portfolio.
Coinbase invests in Ethena via open market ENA purchases, teases new collaboration
Coinbase Ventures stated it has invested in Ethena by purchasing ENA tokens on the open market. Following the announcement, ENA rose approximately 6% over the past 24 hours.Ethena said the two parties will collaborate to advance on-chain finance and savings products. Coinbase also mentioned that they will establish closer cooperation, which involves Circle's stablecoin USDC.Ethena founder Guy Young stated that Ethena's products will be integrated with Coinbase's user base of over 100 million for the first time next week, to support its dollar savings products. The market is watching how the two parties will subsequently collaborate around USDC and Ethena's synthetic dollar, USDe. This move also comes as the US "Clarity Act" remains deadlocked in the legislative process. The bill concerns whether platforms like Coinbase can offer users rewards for holding stablecoins, while banking lobbying groups have consistently opposed similar stablecoin yield arrangements.
Aave plans comprehensive upgrade of collateral and listing standards following KelpDAO security incident
Linda Jeng, Chief Legal and Policy Officer at Aave Labs, stated during Consensus Miami 2026 that Aave's previous risk framework overly focused on financial risks and price volatility. Looking ahead, the protocol will incorporate assessments of cross-chain interoperability, cybersecurity vulnerabilities, and underlying asset architecture.This reform directly stems from the rsETH incident that occurred in April. At that time, an attacker exploited a vulnerability in the KelpDAO cross-chain bridge to mint approximately 116,500 unbacked rsETH (valued at around $293 million), deposited it as collateral into Aave, and borrowed real WETH, leading to significant bad debt risks for the protocol.Jeng revealed that Aave will also release a formal "listing standards handbook" for asset issuers in the future, and will begin evaluating the correlation between DeFi protocols from a systemic risk perspective, rather than analyzing individual pools in isolation.Additionally, a "DeFi United" bailout plan involving Lido Finance, EtherFi, Ethena, and others has been launched to cover collateral shortfalls and prevent further proliferation of bad debt. (CoinDesk)
Ethena Labs to Allocate $250 Million to Securitize’s Tokenized AAA-Rated CLO Fund STAC
According to The Block, Ethena Labs will allocate $250 million to Securitize’s tokenized AAA-rated CLO fund STAC, which has already launched on Solana. STAC—launched by Securitize in partnership with BNY—invests in U.S. dollar-denominated AAA-rated collateralized loan obligations (CLOs) targeting the structured credit market.
Coinbase Completes Investment in Ethena by Purchasing ENA on the Open Market; Both Parties to Jointly Launch On-Chain Savings Product
According to The Block, Coinbase Ventures announced its investment in Ethena by purchasing ENA tokens on the public market. The two parties also announced a strategic partnership to jointly expand onchain financial and savings products. According to Guy Young, Ethena’s founder, the integration will go live next week, marking the first time Ethena’s products will be made available to Coinbase’s over 100 million users. Additionally, the collaboration involves Circle’s USDC stablecoin, though specific details of this cooperation have not yet been disclosed.
Coinbase invests in Ethena via open market ENA purchases, teases new collaboration
Coinbase Ventures stated it has invested in Ethena by purchasing ENA tokens on the open market. Following the announcement, ENA rose approximately 6% over the past 24 hours.Ethena said the two parties will collaborate to advance on-chain finance and savings products. Coinbase also mentioned that they will establish closer cooperation, which involves Circle's stablecoin USDC.Ethena founder Guy Young stated that Ethena's products will be integrated with Coinbase's user base of over 100 million for the first time next week, to support its dollar savings products. The market is watching how the two parties will subsequently collaborate around USDC and Ethena's synthetic dollar, USDe. This move also comes as the US "Clarity Act" remains deadlocked in the legislative process. The bill concerns whether platforms like Coinbase can offer users rewards for holding stablecoins, while banking lobbying groups have consistently opposed similar stablecoin yield arrangements.
Ethena market has launched an additional $50 million USDG lending capacity
According to an official announcement, an additional $50 million in USDG lending capacity is now live on the Ethena market. Leverage USDe Multiply positions on Kamino are currently generating over 25% APY, and the newly available liquidity will support further looping demand on Solana.
Ethena Launches USDe-Exclusive Market on Jupiter Lend, Supporting Leverage Strategies and Institutional Participation
Ethena has announced the launch of a USDe-exclusive market on Jupiter Lend. This market is fully independent from the existing Jupiter Lend deployment, with Bitwise responsible for on-chain asset management and risk supervision, and it supports institutional participation.Users can now deposit USDe, borrow, and execute leveraged USDe strategies on Jupiter Lend. Additionally, USDe can be bridged to the Solana network via Stargate Finance.
Binance Adjusts Leverage and Margin Tiers for Multiple Contracts
: According to an official announcement, Binance will update the collateral ratio and tiered collateral ratio for assets such as UNI, ENA, RAY, APE, and ZEC under the Portfolio Margin at 06:00 UTC on May 15, 2026. Additionally, at 06:30 UTC on May 15, 2026, Binance Futures will adjust the leverage and margin tiers for several USDⓈ-M perpetual contracts, including NAORISUSDT, ARCUSDT, and MUSDT. Existing positions will be affected, and users need to make adjustments in advance.
Related news
Ethena Labs to Allocate $250 Million to Securitize’s Tokenized AAA-Rated CLO Fund STAC
According to The Block, Ethena Labs will allocate $250 million to Securitize’s tokenized AAA-rated CLO fund STAC, which has already launched on Solana. STAC—launched by Securitize in partnership with BNY—invests in U.S. dollar-denominated AAA-rated collateralized loan obligations (CLOs) targeting the structured credit market.
Janus Henderson Invests in ENA and Enters Strategic Partnership with Ethena to Launch Compliant Investment Products, Including ETFs
According to The Block, ANTIK, the blockchain division of asset management giant Janus Henderson—which oversees $480 billion in assets—has established a position in the ENA token and signed a strategic partnership agreement with Ethena to stake USDe for cash management purposes. The two parties have also committed to jointly developing compliant investment products based on USDe and ENA, including ETFs and ETPs, expected to launch in the second half of 2026. As part of the collaboration, Ethena has incorporated Janus Henderson’s JAAA strategy—which invests in AAA-rated CLOs—into the USDe reserve portfolio.
Multicoin deposited 56.116 million ENA worth $5.28 million to Galaxy and BitGo
According to Onchain Lens monitoring, Multicoin Capital (0xD4d...BC10) deposited 56.116 million ENA tokens, worth $5.28 million, to Galaxy Digital and BitGo.
Coinbase Completes Investment in Ethena by Purchasing ENA on the Open Market; Both Parties to Jointly Launch On-Chain Savings Product
According to The Block, Coinbase Ventures announced its investment in Ethena by purchasing ENA tokens on the public market. The two parties also announced a strategic partnership to jointly expand onchain financial and savings products. According to Guy Young, Ethena’s founder, the integration will go live next week, marking the first time Ethena’s products will be made available to Coinbase’s over 100 million users. Additionally, the collaboration involves Circle’s USDC stablecoin, though specific details of this cooperation have not yet been disclosed.
Ethena partners with Anchorage to advance institutional lending, with the Atlas platform handling collateral management.
According to The Block, Ethena Labs and Anchorage Digital have announced a partnership under which Anchorage will serve as the collateral manager for Ethena’s institutional lending business via its Atlas collateral management platform. Under the agreement, institutional borrowers can obtain loans while retaining their assets in Anchorage custody—without needing to fully transfer collateral on-chain. The Atlas platform will provide real-time collateral and loan threshold monitoring, automated margin processes, and rule-based operational execution. This collaboration forms part of Ethena’s USDe reserve reform initiative launched in April this year, aimed at reducing reliance on perpetual futures and shifting toward an over-collateralized institutional lending model. Additionally, Anchorage Digital Bank previously served as the U.S. issuer of Ethena’s institutional-grade stablecoin, USDtb.
Ethena Partners with Anchorage to Advance Institutional Lending and Off-Chain Collateral Management
Ethena Labs has partnered with Anchorage Digital. Anchorage will provide collateral management services for Ethena’s institutional lending business through its Atlas Collateral Management platform.The collaboration allows Ethena to extend loans to institutional clients while keeping the collateral assets custodied at Anchorage, without requiring a full transfer on-chain. Atlas will provide real-time monitoring of collateral and loan thresholds, and automatically execute margin processes and rule-based operations.Since April this year, Ethena has begun restructuring its USDe reserves, transitioning towards an over-collateralized institutional lending model to reduce reliance on perpetual swap basis trading. Anchorage Digital Bank previously also served as the U.S. issuer of Ethena’s institutional-grade stablecoin, USDtb.