Ethena Enters The Stablecoin Showdown with BlackRock-Backed Proposal. Drama Ensues!

Decentralized finance protocol Ethena has decided to throw its hat into the hyper-competitive ring for issuing Hyperliquid’s upcoming stablecoin. Clearly, they didn’t get the memo that *everyone* wants in, including Paxos, Sky, Frax, and Agora. The competition is now officially *spicy*.






