Ethena Labs exits the Hyperliquid stablecoin USDH bidding.



Ethena Labs has announced its withdrawal from the issuance bidding of the Hyperliquid stablecoin USDH. Its founder, Guy Young, stated that discussions with validators and community members raised questions about the Ethena team's positioning within the Hyperliquid ecosystem, including its non-native team identity, product scope beyond USDH, and its broad goals that extend far beyond a single exchange partnership.
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GateUser-bd883c58vip
· 11h ago
I see through this play.
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BrokenYieldvip
· 11h ago
smart money knows when to fold... systemic risk dodged tbh
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SignatureVerifiervip
· 11h ago
technically unsustainable from the start tbh
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MetaverseVagrantvip
· 11h ago
Stablecoin bidding is worse than your shitcoin.
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