TLGY Acquisition Corp. Is merging with a smaller firm to create StablecoinX Inc., focusing on acquiring ENA, the governance token for the Ethena project.
The company raised 360 million USD for the acquisition, which includes 100 million USD obtained through discounted tokens from the Ethena Foundation and crypto investors.
The announcement of the merger triggered a significant stock price increase of 54% for TLGY, reflecting positive investor sentiment.
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