Kyle Samani says the platform is “not permissionless,” alleging that every validator is located in the same physical building, according to his post.
Multicoin Capital co-founder Kyle Samani criticized Hyperliquid, describing it as “Binance 2.0” and saying it is “not permissionless.” In the post, he claimed every validator is located in the same physical building. The statement centers on decentralization, a key issue in crypto markets because validator distribution can affect censorship resistance, operational independence, and the credibility of blockchain-based trading infrastructure. The source provided is a social media post and does not include additional evidence or a response from Hyperliquid.