[Kyle Criticizes Hyperliquid, Sparks Heated Debate, Faces Backlash Over FWDI's Poor Performance] BlockBeats News, February 9 — Kyle Samani, former co-founder of Multicoin and chairman of the board at Forward Industries (FORD), published a post criticizing Hyperliquid, igniting intense discussions within the community. Kyle stated, 'Hyperliquid embodies the worst aspects of the crypto industry in many ways. Its founders fled their homeland to establish it. It openly facilitates criminal and terrorist activities. The code is closed-source and operates on a permissioned basis (requiring access approval).' Yunt Capital analyst Steven retorted sarcastically, 'Yes, Hyperliquid indeed reflects all the flaws of cryptocurrency in most aspects. Including being rejected by venture capital, democratizing market-making through HLP, growing its community through the largest token airdrop in history ($9 billion), and instead of pocketing part or all of the $960 million revenue generated by HL, using it entirely to buy back the token.' Steven shared updated data from the Hyperliquid Assistance Fund buyback, showing that the fund holds 40 million HYPE tokens and has been consistently using protocol revenue for buybacks. Hyperliquid community member Luke Cannon mocked Kyle over his role as chairman of Solana's largest treasury company, Forward Industries (FWDI), saying, 'FWDI exhibits all the issues of DAT companies. Its stock price surged and then continuously plummeted, wiping out billions of dollars in investor funds, while the team still made millions. You personally orchestrated all of this and yet attempt to claim moral superiority.'