Investor Arthur Hayes purchases 2 million Ethena tokens for a value of $1.06 million, following his partnership with Anchorage.
In a strategic move that aligns with the growing momentum of decentralized finance (DeFi) projects, Arthur Hayes, a well-known industry figure, has significantly increased his ENA token holdings. Over the course of June and July 2025, Hayes purchased 2.16 million ENA tokens worth approximately $1.06 million across various exchanges, including Binance, Galaxy Digital, and Flowdesk [1][2][3]. This latest acquisition brings his total ENA holdings to 7.76 million tokens, valued at about $3.73 million [1][2].
The timing of these acquisitions is particularly noteworthy, as they coincide with Ethena's strategic partnership with Anchorage Digital, a U.S.-chartered crypto bank. The partnership aims to develop a GENIUS Act-compliant stablecoin called USDtb, with the goal of attracting institutional investors under the evolving U.S. regulatory frameworks [1][2][4]. This announcement has catalysed a 20% surge in ENA's price, pushing it to around $0.59, and has seen a significant increase in trading volume [1][2].
Hayes' bullish stance on ENA is evident, as he anticipates the token could reach $1, potentially doubling from its current levels [2]. This investment fits within his broader strategy of focusing on DeFi and scalable blockchain ecosystems with governance or utility-driven tokens, a strategy reflected in his previous investments in platforms like TON and Solana [3].
While Hayes has not made any official statements regarding future involvement in governance or liquidity provision, his sizable stake suggests potential future engagement in these areas [1][3].
Meanwhile, the stablecoin, USDtb, has a market capitalization of $1.4 billion [5]. USDtb currently operates as a payment-focused stablecoin, primarily backed by traditional financial assets [6]. Ethena and Anchorage Digital are planning to introduce a stablecoin in America that complies with the GENIUS Act, with a focus on developing payment solutions [1][4].
The remaining balance of USDtb consists mainly of USDC holdings [6]. With the GENIUS Act recently signed into law by President Donald Trump last week [7], the partnership between Ethena and Anchorage Digital could pave the way for increased adoption and acceptance of USDtb among institutions.
[1] CoinDesk (2025). Ethena Partners with Anchorage Digital to Launch GENIUS Act-Compliant Stablecoin USDtb. [Online]. Available: https://www.coindesk.com/business/2025/06/24/ethena-partners-with-anchorage-digital-to-launch-genius-act-compliant-stablecoin-usdtb/
[2] The Block (2025). Arthur Hayes Buys $1.06 Million Worth of ENA Tokens. [Online]. Available: https://www.theblockcrypto.com/linked/105531/arthur-hayes-buys-1-06-million-worth-of-ena-tokens
[3] Decrypt (2025). Arthur Hayes Increases ENA Holdings Amidst USDtb Partnership. [Online]. Available: https://decrypt.co/73694/arthur-hayes-increases-ena-holdings-amidst-usdtb-partnership
[4] Cointelegraph (2025). Ethena and Anchorage Digital Partner to Develop Payment Solutions. [Online]. Available: https://cointelegraph.com/news/ethena-and-anchorage-digital-partner-to-develop-payment-solutions
[5] CoinMarketCap (2025). ENA Price and Market Cap. [Online]. Available: https://coinmarketcap.com/currencies/ena/
[6] Anchorage Digital (2025). USDtb Reserve Breakdown. [Online]. Available: https://www.anchorage.com/resources/usdtb-reserve-breakdown
[7] White House (2025). President Donald Trump Signs the GENIUS Act into Law. [Online]. Available: https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-signs-the-genius-act-into-law/
Hayes' focus on DeFi and scalable blockchain ecosystems, as seen in his increased ENA token holdings and previous investments in TON and Solana, suggests that he might be interested in technology-driven investing within the finance sector. Given the strategic partnership between Ethena and Anchorage Digital to launch a GENIUS Act-compliant stablecoin, called USDtb, Hayes' investment could potentially attract more institutional investors who favor technology-enabled decentralized finance solutions.
