Ethena Labs joins the competition for the issuance rights of Hyperliquid's USDH stablecoin

Jinse Finance reported that Ethena Labs, the issuer of USDe, the third largest US dollar stablecoin, has hinted at joining the competition for the issuance rights of USDH, the stablecoin under Hyperliquid. Ethena Labs posted this morning, stating, "Dear Jeff (Hyperliquid co-founder), I wrote to you, but you still haven't called back. I submitted two USDH proposals last fall, which you definitely didn't receive. Maybe there was an issue with Discord or something else—sometimes when I write deployment addresses, my handwriting is too messy." On September 5, it was announced that Hyperliquid will release the USDH token symbol for stablecoin issuance, requiring institutions to submit proposals by September 10 (Wednesday), with voting to take place on September 14 (Sunday).