StablecoinX is launching as a treasury firm focused on accumulating Ethena's ENA token, backed by a $360 million SPAC merger with TLGY Acquisition Corp. and major investors like Pantera and Galaxy. The Ethena Foundation is also initiating a $260 million buyback program for ENA tokens, contributing to increased demand and a recent price rally.

Avalanche Treasury Co. has entered a merger agreement with Mountain Lake Acquisition Corp. valued at over $675 million, aiming to create a public vehicle for AVAX exposure. The deal includes $460 million in treasury assets and a $200 million discounted AVAX purchase allocation, with plans to grow its digital asset treasury to exceed $1 billion.

Blockchain.com is in discussions to go public through a SPAC listing, with Cohen & Company Capital Markets advising the company. The potential valuation remains unclear, but Blockchain.com has experienced significant valuation changes over the years, raising funds at various levels amid market volatility. The move comes as more crypto companies seek public listings, indicating a growing trend in the sector.