NATIVE MARKETS CLAIMS HYPERLIQUID'S USDH TICKER

Summary from the TLDR Crypto newsletter

After a contentious community voting process, Native Markets has secured the USDH ticker for Hyperliquid's US dollar-pegged stablecoin. The rollout will begin with a testing phase featuring capped transactions, followed by the opening of the USDH/USDC spot order book and the removal of transaction caps. The selection process has drawn criticism from industry executives who alleged a predetermined outcome favoring Native Markets, suggesting controversy around what was presented as an open competitive process among multiple stablecoin issuers, including established players like Paxos, BitGo, and Ethena.