Kyle's Criticism of Hyperliquid Met with Ridicule, Crypto Community Unites to Support Hyperliquid

BlockBeats News, February 9th, Yesterday, former Multicoin co-founder Kyle Samani posted an article criticizing Hyperliquid, stating that its "closed-source code facilitates crime and terrorism." This remark was collectively resisted by most crypto practitioners.

DBA co-founder Jon Charbonneau responded point by point, stating that the founder of Hyperliquid was forced to leave his hometown due to regulatory pressure; and the accusation of "facilitating crime and terrorism" was simply an exaggeration, as any large financial system (including Solana, banks) faces similar situations; "closed-source" is the result of the current security and competitive balance, with many projects (including those invested in by Multicoin) following the same approach.

The Rollup founder and Good Idea VC investor Andy emphasized that Hyperliquid is forcing the entire market to rethink token design: in the next 1-2 years, if projects do not proactively redistribute income to users through buybacks or returns, the project's future looks bleak. The key lies in the revenue, on-chain activity, real economic value, and transparent programmable cash flow of current industry projects.

Arete.xyz Managing Partner McKenna revealed that traditional institutions are paying attention to Hyperliquid, praising HL as a model of "cash cow + community-first," with "an 11-person team generating $800 million in revenue in 2025, all used for buybacks, which is extremely rare in both crypto and traditional equity."

echo xyz founder and crypto KOL Cobie directly mocked Kyle Samani, stating that making such remarks just a few days after leaving the crypto community qualifies as "jestergooning."