Is Binance Backing Hyperliquid? CZ Breaks Silence, Reveals Founder’s Failed Binance-Backed Project

Binance founder Changpeng Zhao (CZ) has addressed growing speculation that Binance may have ties to the fast-growing decentralized exchange Hyperliquid, confirming that while the platform’s founder was once part of a Binance Labs incubation program, there are no current investment links between the two. In a post on X, CZ said Jeff Yan, the founder of Hyperliquid, participated in Binance Labs’ first incubation cohort in 2018 through a startup called YZiLabs. The project, which focused on a decentralized ...