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Morning Edition · Monday, June 29, 2026Published at 6:32 AM EDT · New York
Hyperliquid Forces Its Builders Off Its Own Stablecoin and Onto USDC
A $10 million grant program will pay developers to migrate from USDH to Circle's dollar token or shut down, concentrating the network's settlement onto a single dollar token.
The Hyper Foundation, which supports the high-throughput trading chain Hyperliquid, said it will allocate about $10 million in grants to help applications move away from the USDH stablecoin and onto Circle's USDC, or wind down, by July. The…
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Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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More from this edition
- BIS Tells the World Stablecoins Are Not Money, and Warns Poorer Economies Most
- Europe Tells Unlicensed Crypto Firms to Shut Down Before MiCA's Final Deadline
- Buterin Says Cryptographic Obfuscation Could Build a Trustless Third Party
- Privacy Chains Go to Market, and Split Over Who Holds the Off Switch
- A Quiet Day of Small Exploits, and a Reminder the Attacker Often Skips the Contract
- Spot Bitcoin Funds Post Their Worst Month as Buyers Turn Selective
- El Salvador's Bitcoin Reserve Faces an Accounting Test Under IMF Conditions
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