Greenlane Highlights Berachain Addition of Ethena USDe as Approved Collateral for HONEY Stablecoin
Rhea-AI Summary
Greenlane (Nasdaq: GNLN) highlighted Berachain’s integration of Ethena USDe as approved collateral for the HONEY stablecoin on Jan 29, 2026. Berachain now lists USDe alongside USDT0, USDC and pyUSD to expand dollar-denominated collateral supporting protocol liquidity.
Berachain reports about $19 million of USDe currently used as HONEY collateral while Ethena reports total USDe supply exceeding $6 billion; further expansion depends on market adoption, governance and technical integration.
Positive
- Adds USDe to HONEY collateral set, broadening approved dollar assets
- Reported $19 million of USDe already used as HONEY collateral
Negative
- Deployed USDe (~$19M) is a small share of total USDe supply (> $6B)
- Further USDe adoption on Berachain depends on governance and market acceptance
News Market Reaction
On the day this news was published, GNLN declined 1.34%, reflecting a mild negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $161K from the company's valuation, bringing the market cap to $12M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
GNLN was down 1.97% while sector peers showed mixed moves (e.g., XXII -5.16%, KAVL -2.78%, TPB +2.69%, ISPR +2.59%), pointing to stock-specific dynamics rather than a unified sector trade.
Previous Crypto Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 08 | Crypto treasury update | Positive | -4.3% | Disclosed $8M BERA purchases and expanded on-chain BERA staking position. |
Limited crypto-tag history shows a negative price reaction to a prior Berachain treasury expansion, indicating market caution toward the digital-asset strategy.
Over recent months, Greenlane has shifted from a traditional wholesale model toward a Berachain-focused digital asset treasury strategy. It financed this pivot through a large PIPE and subsequent ATM program, building sizeable BERA positions and engaging in staking and validator operations. The prior Dec 8, 2025 crypto update on BERA purchases saw shares fall 4.31%. Today’s news about USDe collateral within Berachain continues that ecosystem-building narrative rather than changing core financial pressures highlighted in recent filings.
Historical Comparison
Past crypto-treasury news for GNLN saw an average move of about 4.31%. Investors may compare any reaction to this USDe–HONEY integration with that prior BERA purchase update.
Crypto-tag history shows progression from accumulating and staking BERA for a Berachain treasury strategy toward broader ecosystem participation, now highlighting stablecoin collateral integration within Berachain’s HONEY framework.
Regulatory & Risk Context
An effective S-3 shelf dated Nov 21, 2025 registers 33,886,832 common shares for resale by existing holders, including PIPE and warrant-related shares. The company itself does not sell shares under this shelf and receives proceeds only if holders exercise warrants for cash, creating potential resale overhang without primary capital inflow.
Market Pulse Summary
This announcement underscores Greenlane’s deepening alignment with the Berachain ecosystem by highlighting Ethena’s USDe as approved collateral for the HONEY stablecoin, with about $19 million of USDe currently used and a broader $6 billion supply. It extends a strategy already detailed in prior crypto and regulatory filings. Investors may watch how on-chain activity, Berachain protocol decisions, and use of the existing S-3 resale shelf interact with this treasury-focused pivot.
Key Terms
stablecoin financial
on-chain technical
AI-generated analysis. Not financial advice.
USDe approved as collateral to mint Berachain’s HONEY stablecoin
Expands HONEY collateral set alongside USDT0, USDC, and PayPal USD (pyUSD)
BOCA RATON, Fla., Jan. 29, 2026 (GLOBE NEWSWIRE) -- Greenlane Holdings, Inc. (“Greenlane” or the “Company”) (Nasdaq: GNLN), a company pursuing a Berachain-focused digital asset treasury strategy, today highlighted Berachain’s integration of Ethena’s USDe as approved collateral for HONEY, Berachain’s native stablecoin. The integration is intended to expand the range of dollar-based collateral available on Berachain and may support protocol-level liquidity, network activity, and on-chain economic mechanisms within the Berachain ecosystem.¹,²
HONEY is Berachain’s native stablecoin, designed to aggregate multiple widely used stablecoins and other tokenized dollar assets—including USDT0, Circle’s USDC, PayPal’s pyUSD, and now USDe—into a unified liquidity base for applications built on the network. This structure is intended to support on-chain activity by forming a deeper pool of dollar-denominated capital to be utilized by applications across the network, which may enhance capital efficiency and improve user experience.
By incorporating USDe as approved collateral for HONEY, Berachain is expanding the set of approved collateral that may support stablecoin liquidity on the network. Berachain has publicly reported that approximately
Ethena has also publicly reported that the outstanding supply of USDe across supported venues exceeds
“We hope that Berachain’s integration of USDe will demonstrate how expanding stablecoin liquidity may help support network activity,” said Ben Isenberg, Chief Investment Officer, Greenlane. “Initiatives that ultimately strengthen liquidity and on-chain participation may help support the broader Berachain ecosystem.”
The integration of USDe represents one of several initiatives announced by Berachain that Berachain hopes will expand on-chain activity and protocol-level economic functionality, in addition to ongoing infrastructure enhancements, protocol improvements, and the continued onboarding of decentralized applications over time.
About Greenlane
Greenlane is a global platform for the development and distribution of premium lifestyle accessories and consumer products through a broad network of specialty and convenience retailers and direct-to-consumer channels. Alongside its operating business, in October 2025, the Company initiated a Berachain-focused digital asset treasury strategy dedicated to acquiring BERA and increasing BERA-per-share through treasury management. The Company is a Berachain ecosystem participant focused on supporting the development and operation of blockchain-based infrastructure, including assets and applications built on Berachain. The Company engages in network staking, liquidity provisioning, and strategic initiatives intended to contribute to the long-term sustainability of decentralized protocols within its portfolio.
About Berachain
Berachain (BERA) is the first blockchain powered by Proof of Liquidity, designed to help businesses scale and provide sustainable on-chain economies. Proof of Liquidity provides BERA with a staking yield derived from the revenues or ownership of revenue-generating companies building on the network. Berachain reports that it has raised
About Ethena
Ethena is the protocol behind USDe, one of the largest and fastest growing USD-denominated crypto assets in history with >
Investor Contact:
or
PCG Advisory
Kevin McGrath
+1-646-418-7002
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are statements other than historical facts and include, without limitation, statements regarding progress and achievement of the Company’s goals regarding BERA acquisition and staking, the development of the Berachain network ecosystem, including business adoption of the network, the long-term value of BERA, continued growth and advancement of the Company’s Berachain Treasury Strategy and the applicable benefits to the Company, and other projections or statements of plans and objectives.
These forward-looking statements are based on current expectations, estimates, assumptions and projections, and involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, the Company's ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; changes in the regulatory landscape applicable to digital assets, including BERA; the market performance of BERA; and other risks and uncertainties described under "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 21, 2025, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 filed with the SEC on November 14, 2025 and in other subsequent filings with the SEC. These filings are available at www.sec.gov. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Cautionary Note Regarding Digital Assets
BERA is a digital asset that is not legal tender, is not backed by any government or central bank, and may be subject to extreme price volatility, regulatory uncertainty and technological risk. Investments in and exposures to digital assets such as BERA are highly speculative and may result in the loss of all or a substantial portion of the invested capital. Statements about the Berachain protocol, its consensus model, ecosystem projects, and fundraising are based on publicly available information and/or information provided by third parties. The Company has not independently verified all such information and makes no representation as to its accuracy or completeness. Protocol parameters and incentive mechanisms may change over time through governance or other processes.
HONEY is a multi-collateral stablecoin on Berachain intended to maintain a value close to one U.S. dollar, but it is not guaranteed to do so and may depeg. If collateral assets are deemed unstable, the protocol may enter a mode that can change minting and/or redemption mechanics (including redemption into a proportional basket of collateral) and reduce users’ ability to select the asset received on redemption. HONEY’s collateral eligibility, composition, and key parameters are subject to governance and may change over time, and certain collateral assets may be frozen, blacklisted, or otherwise restricted, which could adversely affect HONEY’s value, liquidity, and usability. USDe is a synthetic dollar designed to track the U.S. dollar. USDe itself does not generate yield or interest for holders, and any references to yields or returns relate to separate protocol mechanics or products outside the scope of holding USDe.
The Company’s activities involving BERA and other digital assets may not be suitable for all investors and are subject to the risks described in the “Risk Factors” in the Company's Annual Report on Form 10-K filed with the SEC on March 21, 2025, Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 filed with the SEC on November 14, 2025 and in other subsequent filings with the SEC. These filings are available at www.sec.gov.
- The activities described herein do not represent a guarantee of revenue, yield, profit, or financial return. Greenlane did not play a role in Berachain’s decision to approve USDe as collateral for HONEY, and that approval may have little or no impact on Greenlane’s digital asset treasury strategy.
- Digital assets and decentralized protocols involve significant risks, including price volatility, smart contract vulnerabilities, governance changes, liquidity constraints, and evolving regulatory frameworks.
- Source: https://honey.berachain.com/ as of January 28, 2026 @ 1600 hours
- Source: https://ethena.fi/ as of January 28, 2026 @1600 hours.
FAQ
What did Greenlane (GNLN) announce about USDe and Berachain on January 29, 2026?
How much USDe is currently used as collateral in Berachain's HONEY framework?
What does USDe approval as HONEY collateral mean for GNLN's treasury strategy?
Could adding USDe materially change HONEY stablecoin liquidity on Berachain?
