Ethena’s token ENA rose over 35% this week following the company’s announcement of a partnership with Anchorage Digital and the official U.S. launch of its USDtb stablecoin. The news marked the first stablecoin release compliant with the newly signed GENIUS Act, which sets federal standards for dollar-backed digital assets.
First Stablecoin Launched Under GENIUS Act
Ethena Labs confirmed the launch of USDtb, its U.S. dollar-pegged stablecoin, through Anchorage Digital – the only federally chartered crypto-native bank in the United States. This launch makes USDtb as the first stablecoin issued in full compliance with the GENIUS Act, a law signed by President Donald Trump that provides regulatory clarity for digital dollars.
Read also: What the GENIUS Act Means for Stablecoin Regulation
Anchorage will serve as the official issuer of USDtb, using its secure, regulated infrastructure to ensure the stablecoin meets anti-money laundering, know-your-customer (AML/KYC), and reserve requirements set under federal oversight. Anchorage’s charter from the Office of the Comptroller of the Currency (OCC) allows it to operate as a national trust bank for digital assets.
Arthur Hayes Invests in ENA
In a separate development, BitMEX co-founder Arthur Hayes purchased 2.16 million ENA tokens for roughly $1.03 million. His total ENA holdings now exceed 7.7 million tokens, with a combined value of over $3.7 million at current market prices. On-chain data shows that the tokens were acquired across multiple platforms, including Binance, Flowdesk, and Galaxy Digital.
The timing of the investment coincided with the USDtb launch and the price increase in ENA. Following the announcement, ENA’s trading volume surged by over 50%, surpassing $1 billion in daily transactions.
Market Response and Price Movement
Following the Anchorage partnership news and Hayes’ investment, ENA rose over 10%, defying the broader market correction. Technical indicators, including the Relative Strength Index (RSI), suggest increased buying interest, though resistance around the $0.60 level remains significant.
Outlook
Ethena’s launch of USDtb is the first stablecoin rollout structured under the GENIUS Act, and its partnership with a federally chartered bank prepares it for institutional use. The combination of legal clarity, regulatory compliance, and financial backing has triggered renewed interest in both the stablecoin and the ENA token.
At the time of writing, ENA remains one of the top-performing digital assets today, with heightened trading activity and growing visibility among both retail and institutional participants.
Read also: Ethena Labs Leaves German Market Amid MiCA Compliance Pressure
