Zhao Changpeng (CZ), the founder of the world’s largest cryptocurrency exchange Binance, issued a statement regarding whether YZi Labs (formerly Binance Labs) invested in Hyperliquid.
CZ issued a statement from its X account stating that YZi Labs does not have any investments, tokens or shares in Hyperliquid.
CZ responded to rumors that Binance is backing HyperLiquid founder Jeff Yang and clarified that YZiLabs has never invested in HyperLiquid.
CZ reminded the cryptocurrency community that Jeff Yang was part of YZiLabs’ initial incubation group in 2018.
However, he said the project failed and YZiLabs was unable to recover its investment.
CZ also stated that he has little contact with Jeff and that he was scheduled to meet with Jeff Yang several months ago, but due to a scheduling error, the scheduled meeting did not materialize.
CZ added that they will support developers no matter what happens.
“For those who don’t know, Jeff (HL) was part of YZiLabs (then Binance Labs) incubation season 1 batch in 2018.
Unfortunately, this project failed. YZiLabs did not recover any investment. These things happen.
I didn’t have much contact with Jeff at that time. However, I was scheduled to meet him a few months ago, but due to scheduling issues, he was unable to attend. I never had a chance to change my schedule.
To my knowledge, YZiLabs has not been given any investment (stock or tokens) in HL and it is not owned by YZiLabs.
We support all builders no matter what!”
Gossip Tweet. I saw several posts on this topic.
For those who didn’t know, Jeff (HL) was part of the YZiLabs (then Binance Labs) Incubation Season 1 cohort in 2018.
Unfortunately, that project failed. YZiLabs never recovered its investment. It happens.
I didn’t… https://t.co/zUVtjQ3RCO
— CZ🔶BNB (@cz_binance) October 10, 2025
*This is not investment advice.
