According to @OnchainLens, Ethena Labs deposited 18.36M ENA worth 3.75M dollars to Bybit, marking a significant on-chain exchange inflow for ENA, source: @OnchainLens, Dec 20, 2025. According to @OnchainLens, two years ago the entity withdrew 34.65M ENA worth 28.25M dollars from Gate and received 3.38M ENA worth 1.32M dollars as staking rewards, source: @OnchainLens, Dec 20, 2025. According to @OnchainLens, Ethena Labs still holds 20.118M ENA worth 4.23M dollars in a liquidity pool, outlining the current split between exchange-held and LP-held ENA as reported, source: @OnchainLens, Dec 20, 2025.