When Influencers Lie: Kiyosaki and Samani Shake Crypto Industry's Credibility

When Influencers Lie: Kiyosaki and Samani Shake Crypto Industry's Credibility

The crypto industry has always struggled with an image problem. Regulators accuse the sector of lacking transparency, skeptics warn of fraud, and traditional financial actors question the legitimacy of the entire sector. Public contradictions and questionable statements from prominent industry voices are all the more devastating. Two recent cases exemplify how influential personalities damage trust in Bitcoin and cryptocurrencies through implausible behavior—ultimately harming all market participants.

The Facts

Robert Kiyosaki, author of the financial bestseller "Rich Dad Poor Dad" and self-proclaimed Bitcoin advocate, is currently facing massive criticism for contradictory statements about his Bitcoin purchases. On X (formerly Twitter), the 78-year-old recently claimed he stopped making further Bitcoin purchases when the price was at $6,000 ^[1]. However, this statement directly contradicts numerous public declarations in recent years in which Kiyosaki stated he was actively acquiring Bitcoin—at significantly higher price levels.

The discrepancy is glaring: As recently as July 1, 2025, Kiyosaki wrote on X that he had "bought another Bitcoin today" when the price was around $110,000 ^[1]. A few weeks later, he announced more Bitcoin purchases after the price rose above $117,000. In early 2026, he emphasized in a tweet that he continuously buys Bitcoin regardless of price ^[1]. The last time Bitcoin actually traded at $6,000 was during the Corona crash in 2020 ^[1]. Market observer Mark McGrath subsequently published an overview of Kiyosaki's previous false statements and publicly called him a "lying grifter" ^[1].

A second case is simultaneously shaking trust in prominent crypto investors: Kyle Samani, who resigned as co-founder of Multicoin Capital just days ago, is now publicly attacking the decentralized exchange Hyperliquid. On X, Samani stated that Hyperliquid embodies "everything that is wrong with crypto" ^[2]. He claimed the founder "literally fled his home country to build the project" and that the platform "openly promotes crime and terrorism" ^[2]. He also criticized the non-publicly available source code.

The unsubstantiated accusations provoked sharp counterreactions from the community. Crypto analyst Jon Charbonneau countered: "If a founder actually has to leave a country to build a project like Hyperliquid, that's a sign of a problem with the country, not the founder." He accused Samani of using "Elizabeth Warren-style fearmongering" ^[2]. Particularly explosive: At the end of January, Multicoin Capital itself had invested in Hyperliquid, with on-chain data showing HYPE purchases worth over $40 million ^[2]. When asked about this contradiction, Samani merely replied: "I don't work there" ^[2].

Analysis & Context

Both cases reveal a structural problem in the crypto industry: The lack of accountability among prominent opinion leaders systematically undermines the credibility of a market already struggling with regulatory challenges and public mistrust. While Bitcoin was conceived as a decentralized, trustless system—precisely to make trust in intermediaries unnecessary—the reality remains sobering: Many investors orient themselves toward influencers and self-proclaimed experts whose statements prove inconsistent or even manipulative in hindsight.

Kiyosaki's case is particularly problematic because he propagated a consistent investment strategy over years that he is now retroactively rewriting. Such behavior not only harms those who followed his advice but also feeds the narratives of crypto critics who accuse the entire industry of lacking legitimacy. Historically, Kiyosaki has already predicted dramatic financial crashes multiple times that never materialized ^[1]. A pattern emerges: The attention economy trumps integrity.

Samani's public attack on Hyperliquid, on the other hand, raises questions about conflicts of interest. The fact that a former co-founder of a fund sharply criticizes a project shortly after its significant investment in it suggests internal conflicts. The temporal proximity between the $40 million purchases and Samani's resignation indicates that strategic differences within Multicoin Capital may have played a role ^[2]. For outside investors, this creates maximum uncertainty: Which statements can still be trusted?

The crypto industry is at a critical point in its development. Institutional investors are increasingly entering the market, regulatory frameworks are being created, and Bitcoin is establishing itself as an alternative asset class. Precisely at this stage, public credibility crises involving prominent actors can significantly hinder progress. While Bitcoin's technological foundations remain robust, trust in the ecosystem is sustainably damaged by such incidents.

Conclusion

• Robert Kiyosaki's contradictory statements about his Bitcoin purchases demonstrate how problematic many investors' dependence on financial influencers is—critical scrutiny remains essential

• Kyle Samani's unsubstantiated attacks on Hyperliquid shortly after Multicoin Capital's multimillion-dollar investment reveal potential conflicts of interest and damage the credibility of professional crypto investors

• Both cases underscore a fundamental industry problem: The lack of accountability among prominent actors undermines trust in a market currently fighting for institutional acceptance

• For Bitcoin investors, the principle applies more than ever: "Don't trust, verify"—even statements from prominent advocates should be critically examined and not blindly adopted

• The crypto industry must develop standards for transparency and integrity to build long-term trust—otherwise, such scandals will remain recurring burdens for the entire sector