Coinbase invests in Ethena via open market purchase of ENA, flags new partnership

<p>Coinbase Ventures said Tuesday it has invested in Ethena after purchasing ENA tokens on the open market.</p>

<p>Ethena said the two companies have also become partners "to grow onchain finance and savings products." Coinbase mentioned a "closer partnership" that included Circle's USDC stablecoin, according to a <a href="https://x.com/ethena/status/2061848907282538608?s=20">social media post</a>.</p>

<p>ENA jumped in price following the announcement, up about 6% during the past 24 hours, according to <a href="https://www.theblock.co/price/286071/ethena-ena-usd">The Block price page</a>.</p>

<p>"Excited to partner with Coinbase for the first time to support their dollar savings products.

The upcoming integration next week will be the first time Ethena products are available for their 100m+ user base," Ethena founder Guy Young <a href="https://x.com/ethena/status/2061848907282538608?s=20">posted to X</a>.