StablecoinX, the Nasdaq-listed company focused on the Ethena ecosystem, said it held about 3.029 billion ENA on June 30, equal to 30.8% of the token's 9.828 billion circulating supply and 20.19% of its 15 billion total supply. At ENA's June 30 closing price of $0.07204, the treasury was worth about $218.4 million, or roughly $9.09 per outstanding Class A share. StablecoinX reported $232.6 million in total assets, including $212.9 million in digital intangible assets and $18.9 million in cash and cash equivalents, underscoring how heavily its balance sheet is concentrated in ENA. The company posted a $34.2 million net loss for the second quarter of 2026, driven largely by a $36.2 million impairment charge on digital assets. Adjusted non-GAAP net loss was about $188,204 after excluding certain fair-value changes in digital assets, liabilities and warrant liabilities, while infrastructure-services revenue totaled $62,372 in the final two weeks of June. StablecoinX completed its business combination with TLGY Acquisition Corporation on June 25 and began trading on Nasdaq under the ticker "USDE" on June 26. It has also been building operating businesses around Ethena: its decentralized verifier node had processed more than $3 billion in verified cross-chain volume and more than 10,000 messages by August 12, while its Harness stablecoin-integration platform launched on July 2 and signed its first client on July 10.