Ethena Labs drops out of Hyperliquid’s USDH stablecoin bid citing ecosystem concerns

Ethena Labs has withdrawn its bid to issue Hyperliquid’s USDH stablecoin after validators and community members raised concerns. In a Sept. 11 post on X, Ethena founder Guy Young confirmed the withdrawal, citing feedback questioning Ethena’s positioning within the ecosystem. Young noted that conversations with validators raised three main points: Ethena is not a native The post Ethena Labs drops out of Hyperliquid’s USDH stablecoin bid citing ecosystem concerns appeared first on CryptoSlate.