Changpeng Zhao: HL Co-founder was once a member of Binance Labs incubation project but ended in failure. YZi Labs did not invest in HL

Regarding recent rumors about his relationship with Hyperliquid founder Jeff, Zhao Changpeng issued a statement clarifying that Jeff was a member of Binance Labs' (now known as YZi Labs) first incubation project in 2018, but the project ultimately failed and Binance Labs did not recoup any of its investment. Zhao Changpeng stated that he had little interaction with Jeff at the time and only learned about this from Ella earlier this year. Zhao Changpeng stated that, to his knowledge, Binance Labs has not received or holds any investment (equity or tokens) in Hyperliquid. Zhao Changpeng had previously planned to speak with Jeff, but missed the meeting due to a scheduling error and was unable to reschedule. Zhao Changpeng concluded by stating that he supports all builders no matter what.