Ethena Surges 2.393% as USDtb Stablecoin Launches Under GENIUS Act

Ethena's latest price was $0.6187, up 2.393% in the last 24 hours. This surge in price is indicative of the growing interest and confidence in the Ethena ecosystem, particularly following recent strategic partnerships and regulatory developments.

Anchorage Digital and Ethena Labs have launched USDtb, the first stablecoin to comply with the GENIUS Act in the United States. This move is significant as it brings a regulated digital dollar into the U.S. market, providing a secure and compliant pathway for institutional investors to adopt stablecoins. Anchorage Digital, the first federally chartered crypto bank in the U.S., has partnered with Ethena Labs to issue USDtb, which was originally launched offshore and is now being brought onshore. This stablecoin is designed to meet the high compliance standards set by the GENIUS Act, which requires issuers to maintain 1:1 fiat reserves, submit to federal oversight, and ensure operational transparency.

The GENIUS Act, signed into law in July, establishes clear rules for stablecoin issuance, including capital requirements, auditing standards, and direct regulatory supervision by federal agencies. This regulatory clarity is expected to encourage more U.S. banks and financial institutions to participate in the stablecoin ecosystem. Anchorage Digital's infrastructure offers a turnkey solution for launching stablecoins with full compliance, addressing the regulatory ambiguity that previously discouraged U.S. banks from directly issuing or holding stablecoins.

USDtb is positioned as a regulatory-grade digital dollar tailored for institutional users, offering real-time payments and settlement combined with strict financial reporting and 100 percent reserve support. This stablecoin benefits from Anchorage’s custody and issuance infrastructure, as well as Ethena’s deep experience in synthetic dollar mechanics. Ethena Labs, known for USDe, the third-largest dollar-pegged crypto asset with over $6 billion in total value locked, has rapidly grown its influence in both centralized and decentralized finance sectors. The company is backed by institutional giants like Fidelity, Franklin Templeton, Binance Labs, and Bybit, and its entry into the regulated U.S. market could reshape the stablecoin landscape.

Guy Young, CEO of Ethena Labs, emphasized the opportunity that GENIUS compliance presents for USDtb, allowing it to expand across products and platforms with speed, flexibility, and trust. The partnership with Anchorage reinforces Ethena’s commitment to institutional-grade standards. While there are multiple USD-pegged tokens in the market, only a few comply with the new GENIUS standard. Current stablecoins like USDT and USDC have been working under offshore or state-level regimes, which might restrict their adoption among U.S. banks and registered investment advisers. Directly chartered, federally regulated USDtb could rapidly gain popularity with risk-averse intermediaries due to its combination of speed, programmability, and regulatory comfort.

The GENIUS Act is seen as a turning point in the U.S. crypto regulatory landscape, unlocking new business models and enabling real-time settlement, programmable finance, and decentralized capital markets that are interoperable with the U.S. financial system. Anchorage Digital’s decision to issue USDtb under the GENIUS framework comes amid increasing demand from asset managers, fintechs, and traditional banks for secure digital dollar rails. This move signals a broader institutional shift towards transparent, programmable, and U.S.-regulated stablecoin infrastructure.

Arthur Hayes, the co-founder of BitMEX, has made headlines after purchasing millions worth of Ethena (ENA) tokens, sparking speculation of a significant market move. According to on-chain data, Hayes recently bought 2.16 million ENA tokens, increasing his overall ENA holdings to $7.76 million. This purchase is seen as a positive signal of confidence from a well-known crypto investor. The Open Interest (OI) of ENA in the derivatives markets has also tripled, indicating rising demand among crypto traders. This increase in OI, along with strong upward trends in the spot market, suggests a growing interest in Ethena’s ecosystem.

Ethena Labs has increased its credibility through significant partnerships, including a new alliance with Anchorage Digital to establish USDtb as a U.S.-regulated payment stablecoin under the GENIUS Act. The CEO of Anchorage stated that the GENIUS Act creates a level of clarity regarding the engagement of stablecoins by federally regulated institutions. Additionally, StablecoinX recently merged with TLGY Acquisition Corp., raising $360 million in PIPE funds to invest in ENA and develop the Ethena infrastructure. These strategic moves, along with technical indicators turning bullish, suggest that Ethena could be on the verge of a notable surge in the market.

Ethena has announced a significant partnership with Anchorage Digital to introduce USDtb, its second stablecoin offering, into the United States market. This collaboration leverages Anchorage Digital's status as a federally chartered crypto bank to ensure compliance with the newly enacted GENIUS Act. The GENIUS Act mandates that stablecoins like USDtb must be fully backed by liquid assets such as cash or short-term U.S. Treasuries. USDtb specifically utilizes institutional-grade tokenized treasury funds, including BlackRock’s BUIDL tokenized money-market fund, which operates on the Ethereum blockchain and is designed to maintain a stable value of $1 per token. Guy Young, CEO of Ethena Labs, emphasized the strategic importance of this regulatory-compliant launch, stating it will empower partners and holders to confidently expand USDtb's use across new products and platforms while reinforcing the foundation for scaling the product.

In a related development underscoring confidence in the Ethena ecosystem, prominent cryptocurrency figure Arthur Hayes executed a substantial purchase of Ethena's native token, ENA. Hayes acquired $1.06 million worth of ENA tokens. This significant investment coincided with the announcement of the Anchorage Digital partnership concerning the USDtb stablecoin, highlighting the perceived strategic value of Ethena's direction and compliance efforts.

Ethena Labs CEO Guy Young has publicly advocated for the adoption of crypto treasuries as a solution to the market pressure caused by venture capital supply overhangs. Young positioned these on-chain treasury instruments as a key mechanism for fostering sustainable growth within revenue-generating crypto projects. This perspective aligns with Ethena's broader strategy of leveraging compliant financial infrastructure like tokenized treasuries for stablecoin issuance.