NEWS-NOTED COMPANY MEGA MATRIX (MPU) Filed a shelf — registration of 2 billion (ENA)Governance token of stableecoin protocol ethhena.
As per the filing at Securities and Exchange Commission (SEK)The company could sell up to $ 2 billion securities with plans to use revenue from future offers to accumulate crypto assets.
The company’s stock fell as much as 6%before recovering from the news. It’s still almost 30%when the company revealed its crypto pivot on August 25.
With the move, Mega Matrix said it is aiming to be the first publicly traded company that anchors its digital asset box in stableecoin management by stashing Ethhenas Ena -token.
Ethhena is the decentralized funding (Defi) Protocol Bag $ 12 Billion Usd “Digital Dollar” ether (Eth) Sales (Shorting) Equal amount of derivatives. The Protocol Governance Token Ena could benefit from protocol revenue when the mechanism is activated.
In July, a newly formed company called StableCecoinx announced similar plans to become public through a SPAC fusion and establish an Ena Treasury that targeted to close the deal at the end of the year.
Digital asset tax companies or dats took over Wall Street by storm, with listed companies that are about collecting cryptocurrencies by raising money in traditional capital markets. Strategy (Mstr) Pioneing this Playbook eventually becoming the largest business owner of Bitcoin, while the recent participants increasingly turned their focus into less tokens.
However, the trend may have already burst with several names that threw 70% -80% in the last months, and some are already trading during the net value of their inventory.
Read more: Crypto Treasury -Names further hammered as Nasdaq reportedly ups -check
