Zhao Changpeng: Jeff was a member of the first season of YZiLabs incubation, but YZiLabs did not invest in Hyperliquid.

According to Foresight News, Zhao Changpeng stated, “If you don't know, Hyperliquid co-founder Jeff Yan was a member of the first cohort incubated by YZiLabs (then Binance Labs) in 2018. Unfortunately, that project failed. YZiLabs did not recoup any investments. This is common. At that time, I didn't interact much with Jeff and had forgotten about it. I only learned about it from Ella earlier this year. I was supposed to have a call with Jeff a few months ago, but I missed it due to a scheduling error. And we never had the chance to reschedule. As far as I know, YZiLabs did not invest in HL (equity or Token) and does not hold any investments.”