Kyle criticizes Hyperliquid, sparking heated exchanges, and is mockingly rebuked for poor FWDI performance

BlockBeats News, February 9 — Former Multicoin co-founder and Chairman of Forward Industries (FORD), Kyle Samani, posted a critique of Hyperliquid, sparking intense community discussion. Kyle stated, “Hyperliquid exemplifies many of the worst issues in the crypto industry. The founders fled their homeland to build it. It openly facilitates crime and terrorism. The code is closed-source and operates under a permissioned (access-controlled) model.”

Yunt Capital analyst Steven responded sarcastically, “Yes, Hyperliquid reflects most of the disadvantages of cryptocurrencies. Including being rejected by venture capital, democratizing market making through HLP, growing the community with the largest token airdrop in history ($9 billion), and instead of pocketing part or all of the $960 million revenue from HL, it should be used entirely for token buybacks.” Steven updated data on Hyperliquid’s buyback fund, showing that the HYPE token holdings reached 40 million, with long-term protocol revenue used for buybacks.

Hyperliquid community member Luke Cannon mocked Kyle’s role as Chairman of Forward Industries (FWDI), Solana’s largest treasury company, saying, “FWDI has all the problems of DAT company. Its stock price surged then continued to decline, causing billions of dollars in investor funds to evaporate, while the team still made millions. You personally did all this, and then tried to boast about your moral superiority.”