BitMEX co-founder Arthur Hayes publicly challenged former Multicoin Capital co-founder Kyle Samani on X on February 8, proposing a $100,000 charity bet. The wager: from February 10, 2026 00:00 UTC to July 31, 2026 00:00 UTC, HYPE's dollar-denominated return will exceed that of any altcoin on CoinGecko with a market cap above $1 billion. The loser donates $100,000 to a charity chosen by the winner.
Samani Slammed Hyperliquid as 'Everything Wrong with Crypto'
The bet erupted after Samani posted on February 8 that Hyperliquid 'embodies everything wrong with crypto: founders fled their home country to build it, openly facilitates crime and terrorism, closed-source code, permissioned.' Samani left Multicoin Capital on February 5 after nearly a decade as co-founder, now serving as chairman of Forward Industries (FORD). On-chain data shows Multicoin Capital had bought over $40 million in HYPE tokens, making the timing of Samani's criticism notable.
Hayes' Complicated History with HYPE
Hayes' stance on HYPE has swung wildly. In August 2025, he predicted a '126x upside' for HYPE; by September, he sold his entire position, claiming to buy a Ferrari with the proceeds (~$823,000). In mid-January 2026, he bought back about $499,000 worth of HYPE, signaling renewed conviction.
Recent Fundamentals Boost HYPE
Hyperliquid has seen positive catalysts. HIP-4 proposes adding prediction markets, sparking a 10% price surge. Ripple Prime integrated Hyperliquid to offer institutional clients a decentralized perpetuals trading channel. As of the report, HYPE gained ~20% in the past week and ~25% in the past month, trading in the $32–$33 range, maintaining a bullish structure.