Coinbase Ventures buys ENA as Ethena’s USDe supply rises above $1B

Coinbase Ventures purchased Ethena’s ENA token on the open market as Coinbase and Ethena prepare to roll out new onchain finance and digital savings offerings. Ethena said an initial growth initiative is expected to launch next week and could make its products available to Coinbase’s user base of more than 100 million people. The update comes as Ethena reported USDe supply above $1B and outlined recent expansion across Solana and multiple partner venues.