The Real Reason Everyone Wants Hyperliquid's USDH Ticker with Vance Spencer

The stablecoin wars have arrived at Hyperliquid, and $200 million in annual profits hangs in the balance.

Today, we sit down with Vance Spencer from Framework Ventures to break down the USDA ticker battle. With $5.5 billion of USDC in Hyperliquid's bridge, teams are competing for crypto's most valuable stablecoin partnership.

We explore Sky's proposal, jurisdictional diversification risks, and why this represents the first inning of a much larger game.

Let's get into it.

The Rollup