According to Jinse Finance, the Ethena Foundation announced that from July 22 to July 25, its subsidiary repurchased 83 million ENA on the open market through a buyback program initiated by a third-party market maker. Notably, monitoring by EmberCN revealed that after Ethena announced its StablecoinX plan to use ENA as treasury reserves on July 21, an address associated with the Ethena project team began transferring ENA. A total of 150 million ENA (worth $77.35 million) was transferred to an exchange within five days following the announcement.