Paxos, the former issuer of $BUSD, has now proposed launching a stablecoin $USDH for Hyperliquid. The difference lies in Paxos's proposed profit repurchase program, using 95% of the USDH interest to repurchase HYPE and distribute it to relevant stakeholders. Times have truly changed. If BUSD had been born in today's regulatory-friendly environment, perhaps the landscape of the stablecoin war would have been significantly different.

I remember this project moving from Ethereum to EOS and back to Ethereum, riding the Binance train. Their CEO, Teo, was Zhang Yuqi's former official boyfriend. Then there was the time when CZ was rumored to be dating someone. He said in his WeChat Moments that the woman was his good friend Teo's girlfriend, and everyone misunderstood.

And this story 😂