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Mega Matrix has fired the first shot in its ambitious $2 billion strategy by acquiring 3.86 million $ENA tokens. This move signals a bold corporate pivot from streaming content to directly accumulating governance power within the foundational layers of DeFi.
- Mega Matrix launched its $2 billion DeFi treasury plan with a $3 million purchase of 3.86M $ENA tokens.
- The Singapore-based firm plans weekly $ENA accumulation as part of its DeFi Asset Treasury strategy.
- Shares jumped 15% pre-market following the announcement.
According to a press release dated Sept. 12, the Singapore-based holding company Mega Matrix (NYSE: MPU) executed its inaugural purchase under a new DeFi Asset Treasury (DAT) strategy, acquiring $3 million worth of Ethena’s $ENA token.
The acquisition, averaging $0.7117 per token inclusive of fees, was accumulated over a two-week period using the one-day volume-weighted average price. Mega Matrix management confirmed in the statement that this is not a one-off trade, but the initial step in a systematic, weekly accumulation plan contingent on market conditions.
“Moving forward and based on market conditions, we plan to systematically execute our strategy by accumulating $ENA on a weekly basis, reinforcing our commitment to building the premier treasury reserve for stablecoin governance tokens,” the team said.
From shelf registration to $ENA accumulation
The $ENA purchase is an execution of a plan Mega Matrix first telegraphed to the market just days ago. On Sept. 4, the company filed a universal shelf registration statement on Form F-3 with the Securities and Exchange Commission, a move that, once effective, grants it the flexibility to raise up to $2 billion over a three-year period through the potential issuance of various securities, including shares, debt, or warrants.
The company said this potential capital pool is earmarked solely for its DAT strategy, with $ENA named as a primary target for systematic accumulation. According to management, governance tokens like $ENA represent “the equity of stablecoin ecosystems” and can provide a “seat at the table where the future of money is being coded.”
Investors appeared receptive to the shift. Following the announcement of the $ENA purchase, Mega Matrix’s stock climbed 15% in pre-market trading to $1.94, according to Yahoo Finance data. That response stands in contrast to the initial filing earlier this month, which saw shares slip nearly 4% as the market digested the scale of the $2 billion plan.