Circle CEO: Don't be misled by the hype, Circle will be a major participant and contributor in the Hyperliquid ecosystem

Jinse Finance reported that Circle co-founder and CEO Jeremy Allaire posted on X, stating: "Don't be misled by the hype. Circle will be a major participant and contributor in the Hyperliquid ecosystem. We are pleased to see others purchasing new USD stablecoin codes and joining the competition, but USDC, with its deep liquidity and near-instant cross-chain interoperability, will certainly be warmly welcomed by the market." Previously, Hyperliquid announced the launch of its own stablecoin USDH. So far, four institutions—Paxos, Frax Finance, Agora, and Native Markets—have submitted bidding proposals, and Ethena has also hinted at joining the competition.