A Statement Said Ethena Labs Raised Millions From Some Big Names. Then Chaos Ensued.

A press release circulated by public relations firm Wachsman, slated for publication Friday morning, said that Ethena raised $14 million from Dragonfly, Brevan Howard Digital, Avon Ventures (an affiliate of Fidelity Investment’s parent company), Franklin Templeton, PayPal Ventures, Maelstrom (the family office BitMex founder Arthur Hayes) and some major derivative exchange including Binance, Bybit, OKX, Deribit, Gemini and Kraken.