Mega Matrix Bets $2B on Ethena ENA 🔥

[etfs]

Holding company Mega Matrix just filed for a $2 billion shelf registration to acquire Ethena’s ENA governance token.

Details:

Focus is “exclusively on ENA” (not USDe)

Strategy: gain yield + governance power in the ecosystem

Ethena’s USDe synthetic stablecoin has already hit $13B market cap

Unlike USDC/USDT, USDe maintains its peg via hedging, not collateral reserves.

Takeaway: A single company betting $2B on ENA governance could reshape influence inside Ethena’s ecosystem — and amplify the DAO power play narrative in stablecoins.