StablecoinX Releases ENA Lockup on October 5 Amid Sale Conditions

StablecoinX will be able to sell or use its holdings of Ethena (ENA) starting October 5 after a lockup period is released. In an SEC Form 8-K filed on September 17, StablecoinX revealed that Ethena OpCo and the Ethena Foundation signed a release letter on September 14, which permanently lifts all ENA lockup, vesting, and unlock restrictions effective October 5.

StablecoinX stated it may sell ENA for operational funds or strategic purposes within the Ethena ecosystem. However, any sale requires five business days' written notice to the Ethena Foundation, which has the right to purchase all or part of the sold amount at the proposed price during that period. The Ethena Foundation's prior written consent remains required for any transfer or disposal of ENA under existing partnership agreements.