According to @MilkRoadDaily, perpetuals volume has reached about $400 billion per month, source: @MilkRoadDaily, Sep 15, 2025. According to @MilkRoadDaily, monthly revenue is over $100 million, source: @MilkRoadDaily, Sep 15, 2025. According to @MilkRoadDaily, these figures were reported before the introduction of $USDH, source: @MilkRoadDaily, Sep 15, 2025.

According to @jchervinsky, the claim that a more heavily regulated stablecoin issuer is inherently better is flawed, and the goal should be only as much regulation as necessary. source: Jake Chervinsky (@jchervinsky) on X, Sep 12, 2025. He argues that over-compliance makes issuers slower and more costly, noting that waiting for NYDFS to approve new products is cumbersome and pointing to Paxos as an example. source: Jake Chervinsky (@jchervinsky) on X, Sep 12, 2025. For traders tracking $USDH and NYDFS-regulated stablecoins, this highlights approval latency and compliance overhead as key operational risks for issuance speed and product availability. source: Jake Chervinsky (@jchervinsky) on X, Sep 12, 2025.

According to @KookCapitalLLC, Hyperliquid announced a USDH ($USDH) stablecoin that will be natively minted and positioned as a Hyperliquid-first asset. Source: @KookCapitalLLC (X), Sep 5, 2025. The builder will be chosen via a democratic vote among validators, confirming that team selection will be determined by validator governance. Source: @KookCapitalLLC (X), Sep 5, 2025. The post does not provide launch timing, so traders should note that availability depends on the validator vote and subsequent development by the elected team. Source: @KookCapitalLLC (X), Sep 5, 2025.

According to @MilkRoadDaily, HyperliquidX is set to launch a new stablecoin called USDH that will serve as the native stablecoin for the Hyperliquid chain, source: @MilkRoadDaily on X, Sep 5, 2025. @MilkRoadDaily described the USDH launch as a catalyst for the HYPE ecosystem, indicating potential market attention on $HYPE around rollout updates, source: @MilkRoadDaily on X, Sep 5, 2025. No launch timeline or design details were provided in the post, so traders should await official confirmations and tokenomics disclosures before positioning, source: @MilkRoadDaily on X, Sep 5, 2025.