Hyperliquid’s stablecoin competition faces allegations of backdoor deals – what’s happening?

The race for Hyperliquid’s USDH stablecoin intensifies, focusing on Native Markets and Paxos, amidst claims of favoritism in the bidding process.

Market predictions indicate Native Markets has a 60% probability of winning, which reflects growing interest due to regulatory demands and market competition with Circle’s USDC.