PANews reported on June 3rd that, according to The Block, Coinbase Ventures announced on Tuesday that it has invested in Ethena by purchasing ENA tokens on the open market. The two companies also announced a partnership to jointly develop on-chain finance and savings products. Coinbase mentioned on social media that this closer collaboration involves Circle's USDC stablecoin.

Ethena founder Guy Young stated that this is the first time Ethena has partnered with Coinbase to support its USD savings products, and next week's integration will mark the first time Ethena products are available to Coinbase's more than 100 million users. He pointed out that as the Clarity Act progresses, on-chain native products related to idle balances on exchanges will receive more benefits, and Ethena is ready to support this shift.