In early 2024, Hyperliquid rejected a VC's investment offer with a valuation of $1 billion.

Odaiy Odaily reports that Hyperliquid founder Jeff Yan and his team recently gave a feature interview to Colossos magazine. In the interview, Jeff revealed that he had been in contact with investors in January 2024, and at that time, Jeff's condition was that he would only consider investment terms with a valuation of $1 billion. When an investor accepted this valuation, Jeff spent a weekend thinking about it carefully, but ultimately decided to decline. Hyperliquid's co-founder iliensinc (who managed the funds) and other team members found it hard to accept at the time. iliensinc had already spent two weeks communicating with investors about the funding round. When Jeff called the fund, they were equally incredulous, thinking he had simply accepted terms from another institution. Jeff offered an analogy: "Hyperliquid is not a company, but a protocol, and 'neutrality' has been its core principle from the beginning. If Bitcoin had received venture capital funding back then, it wouldn't be the Bitcoin we know today; its entire value proposition would be destroyed." For more details, please refer to "Jeff Yan's Hyper Life".