StablecoinX Taps Franklin Templeton Veteran for Ethena Oversight
StablecoinX has appointed Christopher Jensen as its new CEO to oversee the company's ENA Treasury. Jensen, formerly a digital asset executive at Franklin Templeton, succeeds Ted Chen who will remain chairman of the board. StablecoinX holds approximately 3.03 billion ENA tokens, roughly 20% of the token's total supply.
Jensen brings experience in building and managing digital assets to his new role. Before joining StablecoinX, he worked at Franklin Templeton where he helped establish the firm's digital asset group after its launch in 2018. The company says this gives him a unique perspective on Ethena's protocol.
The appointment comes as Ethena continues to grow with the recent launch of Ethena Pay, a self-custodial app for users to spend, save and transfer USDe synthetic dollars. ENA token prices have rebounded sharply in recent weeks, gaining over 80% in value to trade around $0.16.
ENA's year-to-date performance is still down about 20%, but the appointment of Jensen may signal a positive direction for Ethena and its ecosystem.