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crypto.news 2025-01-23 16:02:45

Binance Labs rebrands to YZi Labs with CZ at the helm

Binance Labs, the venture capital arm and incubator of Binance Holdings, is getting a fresh start as Changpeng Zhao transitions it into a family office. On Jan. 23, Binance Labs announced its rebranding to YZi Labs and unveiled a new leadership team led by Binance founder and former CEO Changpeng Zhao, known also as CZ. According to the announcement , CZ will run YZi Labs alongside Ella Zhang, who co-founded Binance Labs in 2018. During her tenure at the VC platform, Zhang oversaw the incubation of multiple crypto projects that have grown into top ecosystems in the market, including Polygon, Injective, Dune Analytics, Certik, and SafePal. You might also like: Binance Labs namedrops CZ in a thread announcing rebrand and investment plans in 2025 Under its new family office initiative, YZi Labs will expand its focus beyond cryptocurrency and blockchain. The announcement highlighted new areas of investment, including artificial intelligence, web3 and biotechnology. “Rebranding to YZi Labs is more than a name change—it signifies an expanded vision as we broaden our horizons to include transformative sectors like AI and biotech,” CZ said. Zhao stepped down as Binance CEO in 2023 after reaching a settlement with U.S. authorities. He also served a four-month prison sentence in the U.S. before returning to the industry following his release from a correctional facility in California on Sept. 27, 2024. Binance’s decision to sever ties with its VC arm began taking shape after CZ’s release. In a post on X following his incarceration, Zhao stated that he would focus on “impact” investments rather than financial returns. He also announced plans for an educational project called Giggle Academy. With YZi Labs, CZ plans to refine the venture capital unit’s incubation program, which will include reintroducing residency initiatives for project founders. The firm will also continue to support its existing portfolio of 250 projects. You might also like: Binance and CZ lose bid to squash US crypto lawsuit

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