Binance Founder CZ Recalls YziLabs’ 2018 Incubation Failure
CZ clarifies that Hyperliquid’s failure was part of YZi Labs’ first incubation program, reaffirming no equity or token stakes were held, while continuing to support builders.
HYPE
Summary
Changpeng Zhao (CZ), Binance’s founder, revisited Hyperliquid's failure in YZi Labs' 2018 incubation program, confirming no investment or equity ties in the project. Despite the failure, he expressed continued support for all blockchain builders, acknowledging such setbacks as part of the venture process.
Terms & Concepts
- Binance Labs: The venture capital and incubation arm of Binance, focused on supporting and funding blockchain projects at early stages.
- Incubation Cohort: A group of startups or projects selected to receive mentoring, funding, and resources during a structured development program.
- Blockchain Startup Failure: The inability of a blockchain-focused project to achieve viability, leading to loss of investment or discontinuation.