Former Franklin Templeton executive Christopher Jensen appointed CEO of StablecoinX

StablecoinX announced the appointment of Christopher Jensen, a former digital‑asset executive at Franklin Templeton, as its new chief executive officer. Jensen replaces Ted Chen, who will stay on as chairman of the board after guiding the company through its June public listing.

Company background

StablecoinX (Nasdaq: USDE) is a publicly listed firm focused on the Ethena ecosystem. Ethena issues USDe, a synthetic dollar stablecoin that ranks among the top five stablecoins with roughly $4.4 billion in circulation, according to DeFiLlama data. The protocol’s governance token, ENA, grants holders voting rights over protocol changes.

Significant token holdings

StablecoinX holds approximately 3.03 billion ENA tokens, representing about 20 % of the total ENA supply, making it the largest corporate holder of the token.

Jensen’s background

Before joining StablecoinX, Jensen served as a portfolio manager and director of digital‑asset research at Franklin Templeton, where he helped build the firm’s digital‑asset group after its 2018 launch. Franklin Templeton’s blockchain venture fund participated in Ethena’s seed round, giving Jensen early exposure to the protocol.

Recent developments in the Ethena ecosystem

Ethena recently launched Ethena Pay, a self‑custodial application that enables users to spend, save, and transfer USDe. The ENA token has been volatile, down about 20 % year‑to‑date but rebounding sharply in recent weeks, gaining over 80 % in the past month to trade around $0.16, according to CoinGecko.