Hyperliquid’s New Hype: A Tale of Foul Play and Rising Tokens

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Key takeaways

  • Forward Industries’ Chairman rattles Hyperliquid’s hat, calling it the classic carnival of crypto’s woes.
  • He jabbers about transparency, governance, and the great regulatory circus.
  • Despite the mutterings, HYPE token climbs like a lark on a summer morning.

Kyle Samani, now crowned Chairman of Forward Industries after limping away from Multicoin Capital in February 2026, strutted into the digital fray with a post that would make a duck wear a hat. In it he declared Hyperliquid the embodiment of crypto’s most stubborn goblins-red‑flag, ethical and historical sins wrapped in a shiny veneer.

He accused Hyperliquid’s founders of performing a grand escape, relocating abroad like grandmothers avoiding village gossip, to dodge the ever‑watchful eyes of regulators. He suggested the platform was a smuggler’s haven, a place for illicit trickery, though the police badge hasn’t yet appeared in the feed.

Transparency versus decentralization

Samani didn’t just point the finger; he drew a cartoon on a whiteboard. He claimed the code was locked away behind curtains, while permissions were granted like a secret club-far from the open playground that the word ‘decentralized’ promises.

This raving echoes a rift that’s splintering the crypto world: faces calling their “decentralized” platforms big‑company, laser‑focussed, and shell‑shaped.

A broader shift in investment philosophy

Time is a factor. After stepping down, Samani flung the Web3 and dApp banners into the bin. He now championed blockchain as a stable, museum‑grade ledger, but wedded himself almost exclusively to Solana. His treasury now hoards roughly 6.98 million SOL, believing the true treasure lies in the grain, not in fancy plugins.

Market shrugs off the criticism

While the headlines crackled with accusations, the market did a little shim‑sham. HYPE token rose, roughly 6%, as “institutional adoption” whispered sweet nothings into traders’ ears. The dancers in the market decided that gossip was fluff-better than a poorly drafted regulation.

This dissonance between whispers and numbers is a strandas itself: adoption and liquidity have a way of drowning out reputational dust, at least until the next dramatic pause.

A debate that isn’t going away

Samani’s words have not dented HYPE’s star shine, but they are the bitter ink in a ledger where the line between open ideals and tight‑knitted chairs grows narrower. As institutions waltz in and regulators tighten their grip, Hyperliquid and its ilk will find the spotlight focusing on those hidden corners where the magic might just be toy‑or‑trick.

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2026-02-08 19:13