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06/03/2026

Coinbase Backs Ethena Ahead of Savings Product Launch for 100M Users

What happened: Coinbase Ventures has purchased Ethena tokens on the open market, supporting the protocol as it prepares to launch a new savings product for Coinbase's 100 million users.

Coinbase Backs Ethena Ahead of Savings Product Launch for 100M Users

What happened: Coinbase Ventures has purchased Ethena tokens on the open market, supporting the protocol as it prepares to launch a new savings product for Coinbase's 100 million users. The integration is set to go live next week.

Why it matters: The move positions Coinbase to offer its vast user base access to on-chain savings products, potentially accelerating mainstream adoption of decentralized finance (DeFi) tools. The open market purchase of Ethena tokens also reflects growing confidence in DeFi protocols from major industry players.

Source: CoinDesk