According to ChainCatcher, Binance founder CZ commented on Hyperliquid during an appearance on the Galaxy Brains podcast, saying: “I think Hyperliquid’s innovation is actually awesome.” His remarks focused on the platform’s product direction and the specific segment of the crypto trading market it has chosen to serve.
CZ said Hyperliquid occupies a niche that Binance finds difficult to compete in. He noted that Hyperliquid does not require KYC and describes itself as a decentralized platform. KYC generally refers to customer identity verification, a process commonly associated with compliant operations at centralized trading platforms. In CZ’s comments, this operating position distinguishes Hyperliquid from Binance’s own framework.
At the same time, CZ said that, based on his own past experience, he would not adopt Hyperliquid’s current operating approach. He added: “I guess they have very good lawyers.” The comments combined a direct acknowledgement of Hyperliquid’s innovation with a clear personal reservation about the way the platform is currently run.