Ethena withdraws from Hyperliquid’s USDH stablecoin issuance competition

Posted On September 12, 2025

Ethena Labs has stepped back from Hyperliquid’s USDH stablecoin issuance competition after acknowledging community concerns about its position as a non-native team. According to a Sept. 11 post on X by Ethena (ENA) founder Guy Young, the decision follows direct…