Ethena Labs
PrivateLast Round
Private Equity
Feb 24, 2025
Est. Valuation
$300M
Total Funding Raised
$220M
Momentum Score
25 /100
Company Overview
Ethena Labs, founded in 2023 by Guy Young, is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. Its core product is USDe, a synthetic dollar designed to be a scalable, censorship-resistant form of money independent of traditional banking infrastructure. The protocol maintains the USDe peg to the dollar through a delta-neutral hedging strategy, which involves backing the asset with crypto collateral (like Bitcoin and Ethereum) while simultaneously holding corresponding short futures positions on derivative exchanges. Ethena also offers a yield-bearing savings instrument known as the 'Internet Bond' through its staked USDe (sUSDe) token. The company has raised significant capital through multiple funding rounds, with investors including Dragonfly, Binance Labs, and Arthur Hayes' family office, Maelstrom.
Sector
Crypto & Web3
Verticals
Stablecoins, DeFi, Blockchain Infrastructure, Staking Platforms, Digital Payments
Business Model
B2B2C
Customer Profile
Revenue Share
AI Layer
Non-AI
Keywords
Historical Pricing
Historical view of private secondary pricing and transaction trends.
Ethena Labs Comps
Public and private peers based on sector, stage, and business model.
Ethena Labs Funding Rounds
Historical fundraising activity
| Round | Date | Amount Raised | Valuation | Investors | Sources |
|---|---|---|---|---|---|
| Private Equity | Feb 24, 2025 | ||||
| Early Funding | Dec 1, 2024 | ||||
| Seed | Feb 16, 2024 | ||||
| Seed | Jul 17, 2023 |
Ethena Labs Investors
Notable investors and investment history
| Investor | Rounds |
|---|---|
| Maelstrom | Seed |
| Dragonfly Capital | Private Equity, Seed |
| BitMEX Ventures | Seed |
| Franklin Advisers, Inc. | Private Equity, Seed |
| Bybit | Seed |
| BH Digital | Seed |
| Castle Island Ventures | Seed |
Market signals
Structured signals derived from secondary market and firmographic data.
- Apr 6, 2026
Struck a lending deal with Anchorage for USDe reserves.
- Apr 6, 2026
Entered into a lending deal with Maple Finance.
Ethena Labs Filings
SEC and related filings with document metadata.
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|---|---|---|---|---|---|---|
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Frequently Asked Questions
Common questions about Ethena Labs's valuation, stock price, and market status.
