Gate News message, on April 14, Hyperliquid founder Jeff Yan and other team members recently gave an interview to Colossos magazine. Jeff revealed that in January 2024, he had been in discussions with potential investors, and the condition Jeff put forward at the time was, “I only consider investment terms with a valuation of $1 billion.” When an investor accepted that valuation, Jeff spent a weekend seriously thinking it over, but ultimately decided to turn it down.
Hyperliquid’s other co-founder iliensinc (responsible for managing funds) and other team members at the time also found it hard to accept. iliensinc had previously already been in financing negotiations and communications with the investors for a two-week period. When Jeff called that fund, the other side also couldn’t believe it and thought he had only accepted the terms of another institution.
Jeff gave an analogy in response: “Hyperliquid is not a company, but a protocol. ‘Neutrality’ has been a core principle from the very beginning. If Bitcoin had done venture capital financing back then, it wouldn’t be the Bitcoin we have today, and its entire value proposition would be destroyed.”
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