CZ: HL co-founder Jeff is one of the members of the first incubation program of CEX Labs, but the project ended in failure at that time.

On October 10, CZ posted that he noticed discussions on social media about "Hyperliquid co-founder Jeff appearing in a group photo released by CEX Labs in 2018." Many may not know that Jeff was one of the members of the first incubation program at YZi Labs (at that time CEX Labs) in 2018. Unfortunately, the project ended in failure, and YZi Labs lost its investment, which is common in the venture capital circle. At that time, I had little contact with Jeff and had long forgotten about this matter. Originally, I was supposed to have a phone call with Jeff a few months ago, but I missed it due to a scheduling error, and I haven't found the opportunity to reschedule since. CZ added that YZi Labs has not obtained and does not hold any investment rights in Hyperliquid (whether equity or Token).