Author name: Peter Koech

Hyperliquid investigation
Market Insights

Who Actually Controls Hyperliquid?

A Cryptosmap Investigation Into Validators, HYPE Stake and Network Concentration Published by: CryptosmapInvestigation by: Peter Koech, Founder of CryptosmapReport Reference: CSM-INV-2026-0001Investigation date: September 2026Subject: Hyperliquid (HYPE)Investigation focus: Validator structure, HYPE stake concentration, operator relationships and network-control risk Executive Summary Hyperliquid has developed one of the most significant on-chain trading ecosystems in the crypto market. Its

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