🚨 “EVERYTHING WRONG WITH CRYPTO” — A WARNING SHOT FROM INSIDE THE INDUSTRY

$DUSK | $PYR | $KITE

Crypto just got called out—by one of its own.

Kyle Samani, Chairman of Forward Industries, didn’t mince words when he described Hyperliquid as “everything wrong with crypto.” While he stopped short of detailing specific accusations against the platform or its founder Jeff Yan, the message was loud enough to ripple across the space.

So what’s really being implied here?

At its core, this critique taps into a long-running identity crisis in crypto:

decentralization vs. control, open systems vs. opaque power, user-first incentives vs. growth-at-all-costs.

Hyperliquid has been praised for speed, liquidity, and trader adoption—but critics argue that rapid growth often comes with tradeoffs. When platforms optimize aggressively for performance and dominance, questions arise:

Who really controls the protocol?

Are incentives aligned with users or insiders?

Is “decentralized” just branding, or reality?

Samani’s comments suggest frustration with a broader trend—not just one platform. A crypto industry that talks about transparency, permissionlessness, and fairness, while quietly rebuilding the same centralized structures it claimed to replace.

This is why moments like this matter.

Crypto doesn’t fail only from regulation or bear markets—it fails when it loses its principles. And when respected insiders start sounding alarms, it’s usually a sign that the tension is real and unresolved.

Whether Hyperliquid is a symptom or a scapegoat remains to be seen. But the debate it’s ignited cuts straight to the heart of what crypto is supposed to be—and what it risks becoming.

👀 Pay attention. These conversations often surface before major shifts in narrative, capital, and trust.

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