Crypto bros are fighting over the industry’s version of The Bachelor’s final rose. Over the past week, a handful of companies, including Stripe’s Bridge and a startup connected to Paxos, have submitted proposals to launch a stablecoin on the blockchain Hyperliquid. Every suitor is eyeing the almost $6 billion in stablecoins traded on the blockchain’s biggest exchange.
“Hyperliquid has grown men writing public love letters to their protocol so that they may be picked as a partner,” wrote Mert Mumtaz, CEO of the crypto company Helius, on X. “This is basically The Bachelor, but for stablecoins.”
