Coinbase backs Ethena ahead of savings product launch for exchange's 100 million users
CoinDesk·
60-second summary
Coinbase Ventures is investing in Ethena by purchasing its tokens on the open market, positioning the protocol for a Coinbase integration next week. This strategic move is expected to benefit Ethena's growth and expand its user base, potentially reaching Coinbase's 100 million users. The integration will likely fuel Ethena's adoption and user engagement.
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.