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by: xpoolPosted on: September 12, 2025

Ethena Labs Withdraws from Hyperliquid USDH Bid, Polymarket Traders Rally Behind Native Markets

Ethena Labs has decided to withdraw its bid in the Hyperliquid USDH competition, surrendering a $5.9 billion stablecoin reserve. This decision comes as Polymarket traders have overwhelmingly supported native markets, leading to a significant shift in market dynamics.

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  4. Hyperliquid’s USDH Stablecoin Auction: Native Markets Takes the Lead
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