Company: TLGYF
Filing Date: 2025-08-13
Form Type: 425
Source: 0001213900-25-075251
Chunk: 0

Company: TLGY ACQUISITION CORP
Filing Date: 2025-08-13
Form: 425
Chunk 0
---
Filed by TLGY Acquisition Corp.

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: TLGY Acquisition Corp.

Commission File No. 001-41101

Date: August 12, 2025

On August 12, 2025, Guy Young,
the founder of Ethena Labs S.A., gave an interview on the Unchained Podcast relating to, among other things, the proposed business combination
(the “Business Combination”) between TLGY Acquisition Corp., a Cayman Islands exempted company (“TLGY”), StableCoinX
Assets Inc., a Delaware corporation (“SC Assets”), StableCoinX Inc., a Delaware corporation, (“Pubco”), and the
other parties thereto. A transcript of the interview is provided herewith.

Also on August 12, 2025, TLGY
made the following communication relating to the interview on X.com.

Podcast Transcript

Guy Young:Putting vaporware in an equity
wrapper doesn't disguise the fact that it's still vaporware that's sitting underneath there and an equity wrapper doesn't change the fact
that it's a bad business model or doesn't generate revenue or any of these different pieces and I think what this is going to be the catalyst
for is actually identifying what is that mag seven within crypto where these are the real businesses that are generating real revenues
and continue to sort of compound as winners going forward

Rob Hadick:In crypto what has happened
is you've had a lot of traders masquerading as VCs. We're not playing the premium to NAV game, like that is not what I think is the long-term
sustainability of this type of vehicle. What this type of vehicle exists for is it's an access vehicle and it's a distribution vehicle
and so that's what we were really excited about.

Laura Shin: Hi everyone, welcome to Unchained,
your no-hype resource for all things crypto. I'm your host Laura Shin. This is the August 12th, 2025 episode of Unchained.

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Laura Shin: Today's topic is corporate
treasury companies, who should do it, when, and why? Here to discuss are Guy Young, founder of Ethena Labs, and Rob Haddock, general partner
at Dragonfly. Welcome, Guy and Rob. So, this show was inspired by a tweet