Coinbase backs Ethena ahead of savings product launch for exchange's 100 million users
Coinbase Ventures, the exchange's venture arm, bought Ethena tokens on the open market as the protocol is set to roll out a Coinbase integration next week....
Key takeaways
- 1Coinbase Ventures bought Ethena tokens as Ethena products launch on Coinbase's 100+ million user platform next week.
- 2Ethena's protocol assets declined from $15 billion in October to $5.3 billion amid crypto downturn and yield compression.
- 3Ethena expanded institutional lending partnership with Anchorage Digital to support crypto-native borrowing with regulated custody.
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Why it matters
This partnership significantly expands Ethena's distribution beyond DeFi to mainstream retail investors via Coinbase, potentially driving protocol growth and stablecoin adoption in India's emerging crypto market where yield-bearing dollar products remain underutilized.
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