Ethena exits bid for Hyperliquid USDH stablecoin issuance

According to Golden Finance, Ethena founder today announced that he would withdraw from the HyperliquidUSDH stablecoin issuance bid and give the opportunity to the NativeMarkets team. After communicating directly with the community and validators, Ethena accepted criticism about its "non-Hyperliquid native team". Despite exiting the bid, Ethena said it will continue to develop all the original planned products, including hUSDe native synthetic dollars, USDe-backed savings and card payment products, hedging liquidity on Hyperliquid, and innovative solutions based on the HIP-3 market.