TLGY Acquisition Corporation announced its proposed business combination with StablecoinX, aiming to form a treasury company focused on Ethena stablecoins. The transaction, unanimously approved by the boards of SC Assets and TLGY, is expected to close in Q4 2025. Upon closing, StablecoinX's Class A shares and warrants are anticipated to be listed on Nasdaq under the ticker symbols "USDE" and "USDEW", respectively. Additionally, Ethena Foundation plans to initiate a $260 million token buyback program. Further details can be found in TLGY's related Form 8-K filing.
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