I think the Hype news today is way more impactful in the big picture than the actual $$ involved. For a lot of people I know the regulatory risk of HL was the biggest issue. Getting "buy in" from Circle and Coinbase, as much as a lot of people may hate Coinbase, puts you one step closer to the actual people making the laws in the US. Hyperliquid has done a lot of things correct, but on the regulatory front, things are still "just getting started". This is a gigantic step forward in positioning for Hyperliquid's future. Not just the actual stablecoin part of it, but this does open up the door even more while perps as a product seems to be catching on, to Hyperliquid becoming the rails for perps at a much larger scale. For such a small nimble team, these guys are exceptionally good at what they do.