Kyle Samani Slams Hyperliquid Days After Leaving Multicoin
Days after leaving Multicoin Capital, co-founder Kyle Samani publicly criticized Hyperliquid, contrasting with the firm's recent $40M+ investment in HYPE tokens.Summary
Kyle Samani, co-founder of Multicoin Capital, stepped down on February 5, 2026, and shortly thereafter publicly condemned the decentralized exchange Hyperliquid (HYPE) on social media, calling it "everything wrong with crypto."
This criticism is notable because on-chain data indicated that wallets linked to Multicoin had recently accumulated over $40 million in HYPE tokens, leading to speculation that Samani's departure was prompted by internal conflicts over this investment strategy.
Samani was a key advocate for Solana, focusing on transparent yields and capital efficiency, whereas Hyperliquid is criticized for its closed-source code, centralized validators, and regulatory risks, which contrast with Multicoin's established philosophy. While supporters defended Hyperliquid as embodying true crypto principles through community incentives, the timing of Samani's exit and subsequent critique has fueled an ideological debate regarding the future direction of crypto investment.
(Source：BeInCrypto)