USDC (USDC)

New wallet deposited 4 million USDC into Hyperliquid.

https://t.co/QN8D21HVVV https://t.co/3IKvXfhdQD

Wu said he learned that Lorenzo Valente, Research Director at ARK Invest, is skeptical of the recently launched stablecoin consortium 'OpenUSD', believing that this type of consortium model is difficult to scale and cannot challenge the market dominance of USDC and USDT. Valente points out that such projects face a liquidity cold‑start problem and lack trading pairs with the existing mainstream crypto markets; its internal governance structure is also questionable, with a consortium of 500 competitors resulting in low decision‑making efficiency, which lacks competitiveness compared to the single‑decision‑maker models of Circle and Tether that can respond quickly to market changes. Additionally, Valente analyses that OpenUSD's economic model leads to insufficient funds for the issuer, making it hard to support a complex ecosystem rebate system like Circle's. He likens OpenUSD to a 'DAO experiment', arguing that 'owned by everyone' often means 'responsible to no one'. https://t.co/d4LwZe7K5c

the KOL coins look harmless compared to this 😭😭😭