In this episode of The Chopping Block, Haseeb Qureshi, along with Tom Schmidt, Robert Leshner, Tarun, and guest Guy Young, delve into the recent drama surrounding Hyperliquid's USDH stablecoin ticker proposal. The discussion covers the bidding process, the surprising dominance of Native Markets despite seemingly stronger proposals from established players like Paxos, and the ensuing controversy over potential preferential treatment. The panel debates whether the process was a genuine competition or a pre-determined outcome, and also explores the broader implications of chains and exchanges seeking to capture more value from stablecoin issuers, potentially impacting the economics of stablecoins and creating conflicts between different layers within crypto ecosystems.
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