Why Hyperliquid Chose USDC and What It Means for Apps Trying to Trap TVL
19 May 2026 · 59:07
Bits + Bips hosts Austin Campbell, Ram Ahluwalia, and Chris Perkins are joined by Gordon Liao, Circle's chief economist and head of research, to unpack Hyperliquid's adoption of USDC as its aligned quote asset. They discuss what the move means for stablecoin competition, treasury and liquidity dynamics on the exchange, and whether other platforms trying to lock in TVL will follow the same playbook.