Ethena Labs, the developer of the Ethereum-based stablecoin USDe, has completed a strategic round of funding with a valuation of $300 million, raising $14 million. The round was led by Dragonfly, Brevan Howard Digital, and Maelstrom, the family office of BitMEX founder Arthur Hayes. Other investors include PayPal Ventures, Franklin Templeton, Avon Ventures, Binance Labs, Deribit, Gemini, and Kraken. This round of funding utilized a structure of future equity simple agreements and token subscription warrants.