Mega Matrix purchases $6 million in ENA tokens for stablecoin strategy

Mega Matrix Inc. (NYSE American: MPU) announced it has accumulated approximately $6 million worth of ENA tokens, including a recent $3 million purchase executed over the past week, according to a company statement.

The Singapore-based holding company acquired 8.46 million ENA tokens at an average cost of $0.7165 per token, inclusive of all fees and transaction costs. The purchase value is based on the past one-day volume-weighted average price.

The acquisition is part of Mega Matrix's stablecoin governance tokens treasury reserve strategy, which the company refers to as its DAT strategy. Management indicated plans to continue weekly accumulations based on market conditions.

Mega Matrix operates FlexTV, a short-video streaming platform and producer of short dramas, through its indirect wholly owned subsidiary Yuder Pte, Ltd.

The company's forward-looking statements acknowledge risks associated with investing in ENA tokens, including volatility and regulatory uncertainties in the stablecoin governance token sector.

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