Kyle criticized Hyperliquid, sparking a heated debate, as FWDI faced backlash due to poor performance and was mocked in retaliation.

BlockBeats News, February 9th. In a post, former Multicoin co-founder and Forward Industries (FORD) board chairman Kyle Samani criticized Hyperliquid, sparking intense community discussion. Kyle stated, "In many ways, Hyperliquid epitomizes the worst aspects of the crypto industry. The founder fled his own country to build it. Openly facilitates crime and terrorism. Has closed-source code and is permissioned."

Yunt Capital analyst Steven retorted, "Yes, Hyperliquid embodies all the downsides of cryptocurrency in most aspects. Including VC rejection, democratizing liquidity through HLP, growing the community through the largest token airdrop in history ($9 billion), and instead of pocketing some or all of the $960 million revenue from HL, it's better to use it all to buy back the token." Steven's updated data on the Hyperliquid Aid Fund buyback shows that the fund holds 40 million HYPE tokens, using long-term protocol revenue for the buyback.

Hyperliquid community member Luke Cannon mocked Kyle's role as board chairman of Solana's largest treasury company, Forward Industries (FWDI), stating, "FWDI has all the issues of DAT company, with the stock price continuing to fall after a pump, resulting in billions of investor funds going up in smoke while the team still made millions. You were directly involved in all of this, and then you try to boast about your moral superiority."