Ethena locks $14B as Yzi Labs backs ENA and pushes stablecoin expansion

Yzi Labs announced it will expand its backing of Ethena, one of the biggest producers of digital dollars, USDe. Binance’s investment arm was one of the earliest backers of Ethena. Yzi Labs, Binance’s investment fund, will expand its backing of Ethena Labs. The renewed backing will come in the form of adding ENA to the fund’s positions. The fund will support Ethena’s next growth phase by boosting USDe adoption across exchanges, both centralized and DEX.