PANews reported on March 12 that according to CoinDesk, MEXC Ventures, the investment arm of the crypto exchange MEXC, will invest a total of $36 million in Ethena and its USDe stablecoin. The statement said that the company is making a strategic investment of $16 million in Ethena and purchasing $20 million worth of USDe stablecoins to expand the application of synthetic dollars in DeFi and provide an alternative to legally backed stablecoins.

Tracy Jin, COO of MEXC, said: "As investment demand for Bitcoin and other digital assets continues to rise, stablecoins will attract more investment. MEXC sees Ethena as a key player in the development of diversified stablecoins, which will drive the crypto industry forward, support wider adoption, and provide users with more stable and efficient financial solutions."