About
Ethena is building the Internet's money, offering a reward-accruing synthetic dollar called USDe. USDe provides global instant access to a savings technology with industry-leading rates, aiming to establish a new benchmark for capital productivity. It is integrated across major exchanges, custodians, and on-chain venues, serving users in DeFi, Fintech, Treasuries, and Banks.
Key facts
At-a-glance profile data
- Website
- ethena.fi
- Founded
- 2023
- Total funding
- $40M
- Business model
- DeFi
Funding rounds
| Date | Round | Amount | Lead investors |
|---|---|---|---|
| 25 Sept 2025 | Undisclosed round | $20M | M2 Capital |
| 16 Feb 2024 | Undisclosed round | $14M | Dragonfly, Brevan Howard Digital, Maelstrom |
| 16 May 2023 | Undisclosed round | $6M | Dragonfly, Arthur Hayes |
Tech stack
Detected on ethena.fi, last scanned 4 Sept 2026. Run your own scan
- Frontend
- Next.js, Tailwind CSS
- Analytics
- PostHog
- CMS / Builders
- GitBook
- CDN
- Vercel
- Hiring platform
- Teamtailor
“Coinbase Ventures just invested in Ethena. And this one actually matters. Coinbase doesn't invest in protocols they can't eventually plug into their own ecosystem.”
View on Reddit“When will this ethena scam full retrace?”
View on Reddit“BitMEX’s Arthur Hayes dumps $8.4 million in ENA hours after posting ‘Ethena is impressive’.”
View on Reddit“Ethena Discord gets hacked, users advised to not click any links.”
View on Reddit“But I see no real use case for ethena, and I’d like to know where I’m wrong (if I am). 1) I gather ethena should be a 1:1 dollarpeg? 1.1) if yes: why then would anybody invest really or even set price goals above the 1:1?”
View on RedditSome comments are pulled from public discussions around the web (look for the source icon). Quotes are excerpts; click through to read the full thread.
Frequently asked
How much funding has Ethena raised?
Ethena has raised a total of $40M in funding.