Arthur Hayes-Backed Altcoin Outpaces Crypto Market Amid Launch of New Partnership With Anchorage Digital

The native asset of the stablecoin-focused crypto project Ethena (ENA) skyrocketed by more than 28% on Friday, ignoring a wider crypto market pullback.

The price surge materialized after the Arthur Hayes-backed decentralized finance (DeFi) project announced a new strategic partnership with Anchorage Digital, a federally chartered crypto bank.

The partnership aims to bring Ethena’s second stablecoin offering, USDtb, to the US under the regulatory umbrella of the recently enacted GENIUS Act, with Anchorage Digital issuing the asset domestically.

The new law, signed by US President Donald Trump last week, establishes a regulatory framework for stablecoins, cryptocurrencies pegged to the US dollar. The legislation requires each…

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