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Trust got nuked.
I think this story has nothing to do with Solana or Hyperliquid and everything to do with credibility.
I watched a project raise millions on one narrative, pivot to a completely different ecosystem, and then keep most of the capital.
The token didn’t crash because of market conditions.
It crashed because the market repriced trust to zero.
Too many founders think a community is funding a company.
I think the community is funding a specific promise.
The moment that promise changes, the valuation becomes fiction.
A 99.9% drawdown isn’t a market event.
It’s the price of broken alignment.