Binance Labs is being revamped into a family office under Changpeng Zhao’s leadership.
The announcement of Binance Labs’ rebranding to YZi Labs and the unveiling of a new leadership team, led by Changpeng Zhao (commonly known as CZ), was made on January 23.
Zhao, the founder of Binance, previously served as the company’s CEO. Ella Zhang, one of the co-founders of Binance Labs in 2018, will be working alongside CZ to lead YZi Labs, according to the statement.
During her tenure at the venture capital platform, Zhang oversaw the incubation of numerous cryptocurrency startups, which have since grown into leading ecosystems in the market.
Some of the notable projects she managed include Polygon, Injective, Dune Analytics, Certik, and SafePal. YZi Labs’ new family office model will enable the company to expand its focus beyond blockchain and cryptocurrency.
The announcement highlighted artificial intelligence, Web3, and biotechnology as new areas of investment. In 2023, Zhao resigned as CEO of Binance after reaching a settlement with U.S. authorities.
“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.
He was subsequently sentenced to a four-month prison term in the United States. On September 27, 2024, he was released from a correctional facility in California and returned to the industry.
Binance’s plan to separate from its venture capital arm began to take shape following CZ’s departure. After his release from prison, Zhao announced on X that he would prioritize “impact” investments over financial returns.
He also revealed his plans to launch an educational initiative called Giggle Academy. With YZi Labs, CZ aims to enhance the venture capital unit’s incubation program by reintroducing residency programs for aspiring project founders. Additionally, the company will continue supporting its existing portfolio of 250 projects.
